Non cognizable corporate offences: courts take cognizance only on written complaint by Registrar, shareholder, or authorised official.

Offences under the Bill are generally non cognizable and courts shall not take cognizance of offences allegedly committed by a company or its officers except on a written complaint by the Registrar, a shareholder, or a person authorised by the Central Government; SEBI authorised persons may complain about securities transfers and non payment of dividends. The Registrar or Central Government authorised complainant need not attend trial unless the court requires it. Actions by a liquidator in winding up matters are exempt from the written complaint requirement, and the liquidator is not an officer for this purpose.

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