TMI Blog2018 (7) TMI 2199X X X X Extracts X X X X X X X X Extracts X X X X ..... in contravention of the provisions of Section 165(1) of the Act. Section 441(4) of the Act confers jurisdiction on this Tribunal to accept compounding of certain offences under the Companies Act subject to fees. As far as the case at hand is concerned, the applicant resigned as a Director of 4 public companies reducing their numbers to 10. But he was Director in 14 companies for 21 days in cont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Limited Companies at a time. It is in violation of provisions of Section 165(1) of the Act and it is a punishable offence under Section 165 (6) of the Act. ROC has launched the prosecution against Mr. Bagchi. Hence he filed this application for compounding as per Section 441 of the Companies Act. 3. Notice of this application was given to ROC, West Bengal. He filed his report in the matter. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resigned as a Director of 4 public companies reducing their numbers to 10. But he was Director in 14 companies for 21 days in contravention of provisions of Section 165(1) of the Act since he resigned as Director of 4 companies within 21 days of the notice. | allow this application for compounding and proceed to pass the following Order: ORDER The application is allowed. The offence co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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