BRIEF RESEARCH ON COMPOUNDING OF OFFENCES
BRIEF RESEARCH ON COMPOUNDING OF OFFENCES (SHUBHAM BUDHIARAJA IN COLLABORATION WITH SAMEER GAHLOT AND CHANDAN JHA.) SHUBHAM BUDHIRAJA MOBILE-9654055315 CSSHUBHAMBUDIRAJA1994@GMAIL.COM BRIEF FACTS:- Petitioner defaulted in filling annual return and financials for the year 2014-15. However, default made good as company filed its financials on 14.11.2017 (i.e, during FY 2017-18). While criminal prosecution was pending under section 137 of companies act, 2013 before tis hazari court (Special court) , the company went into compounding before NCLT. Important Note:- 1. Section 137 deals with non -filling of AOC4 and Section 92(5) deals with MGT7. It is pertinent to note that non filling of AOC4 attracts FINE whereas non filling of MGT7 attracts PENALTY. (However after 2018 ordinance , both are reclassified as PENALTY only). So the consequences of Fine may attract criminal prosecution as it evident in case of Section 137. 2. Section 441 of com