offences compounding companies section
Thanks Gaurav, even my opinion was also same but some professionals told me to move the application before NCLT, so that's why I raise the query.
Anyways, thanks for the reply !!
You are welcome. Request you to answer other queries on the platform to help others find their answers.
Yes sure, will do the same.
Dear Anand,
RD has the jurisdiction to compound an offence that has a maximum fine of Rs. 25 lacs. The quantum of Rs. 25 lacs shall be determined based upon each applicant and is not required to be consolidated of all the applicants where the joint application is moved.
So, for calculating the monetary jurisdiction, the fine shall be calculated on the basis of each of the applications and shall not be aggregated. If in any case, the quantum of fine on a company is less than Rs 25 Lacs but more than the said amount for an officer in default, then either a joint application can be filed with Tribunal or the company can file the application with RD and officer in default with the Tribunal.
Hope your query is answered.