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2019 (7) TMI 1145 - AT - Companies LawCompounding of offences u/s 134(3)(o) r.w.s 135(2) - violation of disclosure of Director’s Report and the details of the CSR Policy developed and implemented - Application u/s 441 of the Companies Act, 1956 - HELD THAT:- The Tribunal on hearing the parties and taking into consideration the fact that the provision of law being newly introduced under 2013 Act and that the appellants had not much clarity on it and the default had been subsequently made good, deemed it fit, just and equitable to impose the fine for compounding the offence for three years If the total amount is calculated, we find that penal amount is less than 33% of the total maximum penal amount payable. The Tribunal having taken lenient view on the ground that new Act has been introduced, we are not inclined to accept the same though we are of the view that the provisions of Act of 2013 are practically similar to the provisions as were there already in Companies Act, 1956. Hence, we find no merit in the appeal. The appeal is dismissed. No cost.
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