TMI Blog2019 (4) TMI 821X X X X Extracts X X X X X X X X Extracts X X X X ..... hange in law on and from February 9, 2018 to section 441(1) as brought forth by the Companies (Amendment) Act, 2017 (1 of 2018) this Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the defaulter has made good the default. The offence shall stand compounded - petition disposed off. - C. P. No. 60 (File-1)/ 441 (ND)/ 2017 and T. A. No. 58 of 2018. - - - Dated:- 8-3-2019 - R. Varadharajan Judicial Member For the Petitioners : Rohit Jain For the Respondent : Amol Shinde ORDER R. VARADHARAJAN (JUDICIAL MEMBER). - 1. The applicants, even though have filed the application jointly and in relation to the years 2013-14 to 2015-16 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liable to be punished with fine which may extend to five thousand rupees, and every officer of the company who is in default, shall be liable to be punished with imprisonment for a term which may extend to three years, or with fine which may extend to fifty thousand rupees, or with both. The above position has also been brought forth in the report of the Registrar of Companies dated January 17, 2019. 4. The applicants have pleaded that the default was committed only due to inadvertent mistake with no mala fide intentions on the part of the applicants and it is not likely to cause any prejudice to either the members of the applicant-company or any other party. 5. The Registrar of Companies has filed a detailed report and a perusa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nto consideration. Further, in passing this order, this Tribunal is also guided by the order of the hon'ble National Company Law Appellate Tribunal passed in Viavi Solutions India P. Ltd. v. Registrar of Companies, NCT of Delhi and Haryana [2017] 203 Comp Cas 165 (NCLAT) in relation to imposing of fine and compounding of an offence and prior to the said judgment of the hon'ble Supreme Court as passed in the decision rendered by it in V. L. S. Finance Ltd. v. Union of India [2013] 178 Comp Cas 348 (SC) ; [2013] 6 SCC 278. 8. Form a perusal of the provisions of section 621A of the Companies Act, 1956, which reads as follows : 621A. Composition of certain offences.-(1) Notwithstanding any thing contained in the Code of Criminal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Central Government. (b) Where any offence is compounded under this section, whether before or after the institution of any prosecution, an intimation thereof shall be given by the company to the Registrar within seven days from the date on which the offence is so compounded. (c) Where any offence is compounded before the institution of any prosecution, no prosecution shall be instituted in relation to such offence, either by the Registrar or by any shareholder of the company or by any person authorised by the Central Government against the offender in relation to whom the offence is so compounded. (d) Where the composition of any offence is made after the institution of any prosecution, such composition shall be brought by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... punishable under this Act with imprisonment only or with imprisonment and also with fine shall not be compoundable. (7) No offence specified in this section shall be compounded except under and in accordance with the provisions of this section. (emphasis supplied) 9. Taking into consideration the yardstick as laid down in the above judgment and since the offence is said to have been committed under the erst-while provisions of the Companies Act, 1956 whereunder it has been held by the hon'ble Supreme Court that this Tribunal has the power to com-pound such like offences attendant with such like punishment as in the present one and even if prosecution is pending before the criminal court and also taking into consideration the chan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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