https://www.taxtmi.com/caselaws?id=459569 The Telangana HC dismissed appeals challenging the Company Law Board's decision to compound offences under Section 621-A(1). The court held that discretion to refuse compounding cannot be exercised arbitrarily unless public interest demands otherwise. Only the company and its Chartered Accountant sought compounding, while other accused directors involved in the main falsification case did not apply. The HC criticized the appellant's conduct as encouraging frivolous litigation and discouraging genuine entrepreneurs. The Registrar was directed to inform the Special Judge about the composition within one week, and appeals were dismissed with costs of Rs. 10,000 each. en-us Mon, 23 Jun 2014 00:00:00 +0530 Wed, 18 Dec 2024 19:04:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459569 The Telangana HC dismissed appeals challenging the Company Law Board's decision to compound offences under Section 621-A(1). The court held that discretion to refuse compounding cannot be exercised arbitrarily unless public interest demands otherwise. Only the company and its Chartered Accountant sought compounding, while other accused directors involved in the main falsification case did not apply. The HC criticized the appellant's conduct as encouraging frivolous litigation and discouraging genuine entrepreneurs. The Registrar was directed to inform the Special Judge about the composition within one week, and appeals were dismissed with costs of Rs. 10,000 each. Case-Laws Companies Law Mon, 23 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459569