https://www.taxtmi.com/caselaws?id=213991 Prosecution for company-law defaults based on show-cause notices was treated as time-barred because offences punishable only with fine attracted a six-month limitation period under the Criminal Procedure Code, running from the date of offence or, where applicable, knowledge of the offence. The materials also did not disclose a sustainable case for prosecution: the disclosures on dividend accounting, related-party interest, dividend transfers, and whole-time director remuneration were found to reflect a tenable and largely compliant position. In an application under section 633(2) of the Companies Act, 1956, relief by discharge was considered justified where no real offence was made out and the conduct appeared honest and reasonable. en-us Tue, 26 Jul 2011 00:00:00 +0530 Fri, 20 Nov 2015 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213991 Prosecution for company-law defaults based on show-cause notices was treated as time-barred because offences punishable only with fine attracted a six-month limitation period under the Criminal Procedure Code, running from the date of offence or, where applicable, knowledge of the offence. The materials also did not disclose a sustainable case for prosecution: the disclosures on dividend accounting, related-party interest, dividend transfers, and whole-time director remuneration were found to reflect a tenable and largely compliant position. In an application under section 633(2) of the Companies Act, 1956, relief by discharge was considered justified where no real offence was made out and the conduct appeared honest and reasonable. Case-Laws Companies Law Tue, 26 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213991