https://www.taxtmi.com/caselaws?id=340249 Compounding of Companies Act offences is limited to inadvertent, bona fide statutory lapses and is inappropriate where the defaults involve deliberate and mala fide non-compliance. On the stated facts, the misconduct included fabrication of documents, falsification of books of account and financial statements, and acceptance of deposits contrary to the statutory framework. Because the defaults were described as incurable and closely connected with pending criminal prosecutions under penal law, compounding would prejudice the prosecution. The requests for compounding were therefore declined, and the applicant was held not entitled to compounding of the offences. en-us Mon, 06 Feb 2017 00:00:00 +0530 Sat, 18 Mar 2017 17:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340249 Compounding of Companies Act offences is limited to inadvertent, bona fide statutory lapses and is inappropriate where the defaults involve deliberate and mala fide non-compliance. On the stated facts, the misconduct included fabrication of documents, falsification of books of account and financial statements, and acceptance of deposits contrary to the statutory framework. Because the defaults were described as incurable and closely connected with pending criminal prosecutions under penal law, compounding would prejudice the prosecution. The requests for compounding were therefore declined, and the applicant was held not entitled to compounding of the offences. Case-Laws Companies Law Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340249