https://www.taxtmi.com/caselaws?id=333417 The Tribunal allowed 14 applicants to compound a violation of Section 295 of the Companies Act, 1956, for providing collateral security without Central Government approval. The applicants admitted the violation, sought compounding without malicious intent, and were ordered to pay a compounding fee of 50,000 each. They must also ensure compliance with Section 295 within four weeks. The Tribunal emphasized caution to prevent future breaches and disposed of the application accordingly. en-us Fri, 26 Aug 2016 00:00:00 +0530 Tue, 02 Apr 2019 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333417 The Tribunal allowed 14 applicants to compound a violation of Section 295 of the Companies Act, 1956, for providing collateral security without Central Government approval. The applicants admitted the violation, sought compounding without malicious intent, and were ordered to pay a compounding fee of 50,000 each. They must also ensure compliance with Section 295 within four weeks. The Tribunal emphasized caution to prevent future breaches and disposed of the application accordingly. Case-Laws Companies Law Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333417