https://www.taxtmi.com/caselaws?id=783943 Proceedings alleging contraventions of s.129(1) read with Sch.III of the Companies Act, 2013 for wrongful classification/disclosure in financial statements were held unsustainable because the discrepancies were minor, technical, and readily verifiable from the accounts; there was no allegation or evidence of falsity, suppression, misfeasance, or mala fides, and the directors were found to have acted honestly and reasonably, satisfying the test for relief under s.463(2), resulting in quashing of the impugned action. Separately, applying the one-year limitation for offences punishable with imprisonment and computing time from the date of knowledge, the alleged contraventions were found time-barred, resulting in the petition being allowed. en-us Mon, 22 Dec 2025 00:00:00 +0530 Fri, 26 Dec 2025 07:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783943 Proceedings alleging contraventions of s.129(1) read with Sch.III of the Companies Act, 2013 for wrongful classification/disclosure in financial statements were held unsustainable because the discrepancies were minor, technical, and readily verifiable from the accounts; there was no allegation or evidence of falsity, suppression, misfeasance, or mala fides, and the directors were found to have acted honestly and reasonably, satisfying the test for relief under s.463(2), resulting in quashing of the impugned action. Separately, applying the one-year limitation for offences punishable with imprisonment and computing time from the date of knowledge, the alleged contraventions were found time-barred, resulting in the petition being allowed. Case-Laws Companies Law Mon, 22 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783943