Compounding of offence under Section 621A of the Companies Act, 1956 - companies under liquidation - clarification.

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..... Dated: 6.3.2002 To All Regional Directors All Registrar of Companies Subject:- Compounding of offence under Section 621A of the Companies Act, 1956 - companies under liquidation - clarification. Sir, A point has been raised in one of the inspection follow-up files as to whether the offences committed by Directors of a company can be compounded under Section 621A of the Companies Act, 1956, .....

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..... r Section 621A of the Act. 3. Where the penal provisions provide for proceedings against the companies also and if the offences are compoundable under Section 621A of the Companies Act, 1956, compounding will not be permissible against the company in view of the provisions of Section 446 of the Companies Act. Yours faithfully, (Thakur Sharan) Under Secretary to the Govt. of India
Circular, .....

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