Compounding requirement limits scheme access: companies must file compounding applications before using the simplified exit mechanism. Eligibility for the Simplified Exit Scheme is barred where a prosecution for a non-compoundable offence is pending; applicants must declare pending litigations. Companies involved in offences that are compoundable under the Companies Act may access the scheme only after filing a compounding application and then applying under the scheme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Compounding requirement limits scheme access: companies must file compounding applications before using the simplified exit mechanism.
Eligibility for the Simplified Exit Scheme is barred where a prosecution for a non-compoundable offence is pending; applicants must declare pending litigations. Companies involved in offences that are compoundable under the Companies Act may access the scheme only after filing a compounding application and then applying under the scheme.
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