Compounding of corporate prosecutions encouraged through Lok Adalats; RDs and ROCs to review and process eligible cases Regional Directors and Registrars of Companies must organize Lok Adalats to facilitate compounding applications under Section 621A, accept and decide compounding petitions where empowered, forward others to the Ministry, and publicize invitations broadly. ROCs/ RDs must review pending prosecutions to withdraw cases against nominee/independent directors not liable, pursue withdrawal where no public interest exists in nonfiling cases, consider prosecutions against firms applying for striking off, submit monthly recommendations, and ensure the prosecution module is updated and reported.
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Compounding of corporate prosecutions encouraged through Lok Adalats; RDs and ROCs to review and process eligible cases
Regional Directors and Registrars of Companies must organize Lok Adalats to facilitate compounding applications under Section 621A, accept and decide compounding petitions where empowered, forward others to the Ministry, and publicize invitations broadly. ROCs/ RDs must review pending prosecutions to withdraw cases against nominee/independent directors not liable, pursue withdrawal where no public interest exists in nonfiling cases, consider prosecutions against firms applying for striking off, submit monthly recommendations, and ensure the prosecution module is updated and reported.
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