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2019 (8) TMI 718 - AT - Companies LawPenalty for non preparation & filing of Cost Audit Report in time - initiation of prosecution u/s 233B(11) of the Companies Act, 1956 - NCLT allowed application for compounding with equal fine on company & directors - HELD THAT:- There is substance in the argument of the learned Counsel for the Appellants that the Company and the Directors have not been treated equally. Impugned order maintained with regard to imposing of fine under Section 148(8) for FY 2014 – 2015 and 2015 – 2016 and substitute “40,000” in place of “2,00,000” with regard to the Directors/Officers, i.e. present Appellants No.2 to 5 - rest order maintained - appeal allowed in part.
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