Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
NCLAT determined that failure to file Board Reports for FY 2010-11 and 2013-14 constituted continuing offences under s.220 of Companies Act, 1956. While appellants admitted default in filing with ROC, evidence showed reports were circulated to shareholders timely with no prejudice to stakeholders. Considering the inadvertent nature of omission, self-disclosure by appellant, and comparable precedents, NCLAT modified the penalty structure. The tribunal reduced compounding fees to Rs.50 per day of continuing default for both company and directors, finding original penalty excessive. The appeal succeeded with modified penalties applied under s.220 read with s.162 of Companies Act, 1956.
NCLAT determined that failure to file Board Reports for FY 2010-11 and 2013-14 constituted continuing offences under s.220 of Companies Act, 1956. While appellants admitted default in filing with ROC, evidence showed reports were circulated to shareholders timely with no prejudice to stakeholders. Considering the inadvertent nature of omission, self-disclosure by appellant, and comparable precedents, NCLAT modified the penalty structure. The tribunal reduced compounding fees to Rs.50 per day of continuing default for both company and directors, finding original penalty excessive. The appeal succeeded with modified penalties applied under s.220 read with s.162 of Companies Act, 1956.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
