ORDER:
1. The respondent is an individual holding/controlling more than 50% voting power in Hassan Tanneries Limited, a public limited company having assets exceeding rupees one crore. He was registrable under section 16(1)(h) of the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance, 1970 (hereinafter called the Ordinance) on the basis of the balance sheet of Messrs Hassan Tanneries Limited, for the year ended 30-6-1976. He, however, failed to register and, therefore, a show-cause notice was issued by the Authority and the case was fixed for hearing on 8th June, 1977.
2. The Advocate for the individual submitted that the fact that he was registrable under the provisions of Monopoly laws is not denied. It was, however, submitted that the individual was under a bona fide presumption that the factory of the undertaking was still under construction and he was, therefore, not subject to any regulatory laws for the time being. It was also contended that his client did not have the professional staff who could render him advice on various legal obligations.
In these circumstances the non-submission of the application for registration was claimed to be without any motive and that is why Mr. Sher Hassan submitted application for registration in the prescribed form as soon as he came to know that he was registrable.
3. We have considered the facts and we find that the individual was registrable within 15 days of the preparation of the balance sheets i,e, before 25th November, 1976, but he failed to apply for registration. It appears that non-registration was advantageous to the respondent because it would enable him to escape further regulatory provisions of the Ordinance. For this wilful failure the respondent is clearly liable to penalty under section 19 of the Ordinance. We, however, find that he has promptly submitted application for registration after receipt of the show-cause notice.
Considering this fact a lenient view of the matter is taken and a penalty of Rs, 1,000 is imposed. The penalty should be paid by 18th July, 1977.