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Companies Law - Highlights / Catch Notes

Home Highlights August 2022 Year 2022 This

Compounding of offence under Section 266G of the Companies Act, ...

Companies Law

August 23, 2022

Compounding of offence under Section 266G of the Companies Act, 1956 - on facts, the nature of offence which the company has charged does not invite with imprisonment or imprisonment and fine, but the penalty imposed is punishable with fine, which may extend upto five thousand rupees and where the contravention is continuing one, with a further fine, which may extend to five hundred rupees for everyday thereafter. Thus, the nature of offence is such that it is compoundable, and the same is just and proper. - HC

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