https://www.taxtmi.com/caselaws?id=457326 Non-compliance with cost audit filing requirements was held not to be a continuing offence once the default had been cured by appointment of the cost auditor and completion of the filing. Because the alleged contravention was punishable only with fine, prosecution had to be initiated within limitation; a complaint taken on file in 2018 was time-barred. The proceedings were also found unsustainable against nominee and non-executive directors, as the default arose from board-level decisions, statutory compliance was later completed, and no material showed their personal culpability. The criminal proceedings were therefore quashed as an abuse of process. en-us Mon, 25 Apr 2022 00:00:00 +0530 Mon, 16 Sep 2024 20:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457326 Non-compliance with cost audit filing requirements was held not to be a continuing offence once the default had been cured by appointment of the cost auditor and completion of the filing. Because the alleged contravention was punishable only with fine, prosecution had to be initiated within limitation; a complaint taken on file in 2018 was time-barred. The proceedings were also found unsustainable against nominee and non-executive directors, as the default arose from board-level decisions, statutory compliance was later completed, and no material showed their personal culpability. The criminal proceedings were therefore quashed as an abuse of process. Case-Laws Companies Law Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457326