Law: Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970

Section: 19

Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance (V of 1970)--Ss. 19(1)(a) & 21 Non submission of document regarding annual audited accounts Imposition of penalty Authority allowed one month's time to Undertaking for Submission of annual audited accounts for relevant year, but Undertaking having failed to do so, was served with a show cause notice under S.19(1)(a) of Monopolies and Restriction Trade Practices (Control and Preventions) Ordinance, 1970 -Undertaking vide its letter requested for allowing it submission of .required documents after completion of financial year Authority accepted request of undertaking and fixed date of hearing but on due date neither Undertaking nor its duly authorized representative appeared Authority considered the fact that Undertaking remained under control of "Receiver" in compliance with orders of Banking Court and matter was pending before Banking Court for decision in respect of liabilities and losses sustained by Undertaking during Receiver's period ¬Authority after considering all facts decided that request for further extension in submission of audited account was not reasonable Authority imposed penalty of Rs.20, 000 under S.19(1)(a) of Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970. ORDER The Monopoly Control Authority (hereinafter referred to as "the Authority") vide its order dated January 15, 2003 allowed two months time for submission of annual audited accounts for 2001 and 2002 to Messrs Chiltan Ghee Mills (Pot.) Limited (hereinafter referred to as "the Undertaking"). The Undertaking was required to supply the requisites documents by March 15, 2003 but it failed to do so. It was therefore, served with a show cause notice on April 09, 2003 under section 19(1)(a) of the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970 (hereinafter referred to as "the Ordinance"). The Undertaking vide its letter dated April 23, 2003 requested for…

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