Tribunal Imposes Minimum Fine for Company Law Offenses, Considering Extenuating Circumstances, Despite No Prescribed Minimum Penalty.

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....Compounding of offences relating to contravention - The quantum of penalty specified by the ROC in his report furnished maximum penalty prescribed under the relevant section. There is no minimum penalty prescribed under the section and it only says upto one lakhs and upto ₹ 5000 per day. Therefore, the Tribunal has to take into consideration of the extenuating circumstances as available in given case - Minimum Compounding fine imposed taking a lenient view - Tri....