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of <h1>Officers Face Prosecution Under Companies Act Section 342 for Misconduct During Company Winding-Up Process</h1> Section 342 of the Companies Act, 2013, addresses the prosecution of delinquent officers and members during a company's winding-up process. If the Tribunal identifies any wrongdoing by company officers or members, it can instruct the liquidator to prosecute or refer the matter to the Registrar. All officers, agents, and employees, including bankers and legal advisers, must assist in the prosecution. Previous provisions allowing the Company Liquidator to report offenses during voluntary winding-up and potential penalties for non-assistance have been omitted by subsequent amendments.
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