Introduction:
Section 441 of the Companies Act, 2013 allows companies and their officers to compound certain offences, avoiding prosecution by paying a fine. It applies to an offences punishable with fines or imprisonment up to seven years, or both. The compounding application is filed with the Regional Director or an officer authorized by the Central Government. For offences with imprisonment only or imprisonment plus fine, compounding is not allowed if imprisonment exceeds three years. The process aims to reduce litigation and promote compliance. Once compounded, no further prosecution for the same offense can be initiated. The provision encourages voluntary rectification of minor non-compliances. It was introduced to streamline corporate governance and reduce court burdens.
Scope of Work:
I. Convening of Board Meeting: Obtaining Board approval by passing of the Board Resolution in the Board meeting.
II. Preparation of the Compounding application along with all the annexures and documents.
III. Drafting of resolutions and its related documents.
IV. Drafting of affidavits and declarations on behalf of each directors and the company.
V. Verification of all the proceedings on going currently.
VI. Filing and submission of an application electronically via e- form GNL- 1 to the Registrar of the Companies along with its attachments and prescribed fees.
VII. Drafting of satisfactory reply to revert the queries raised by the ROC/ RD, if any.
VIII. Representation before Regional Director and Registrar of Companies as the authorized representative.
IX. Preparation and filing of e- form INC 28 within 30 days from the date of receipt of the concerned order to communicate the order to all the concerned authorities.
FILING REQUIREMENTS:
a. Preparation and Filing of e-form GNL-1 on MCA V3 portal.
b. Preparation and Filing of e-form INC- 28 on MCA V3 portal.
CONTACT INFORMATION
Ladda Bhutada & Associates | 360 CompanyBecho Private Limited
- CS IP: Pramodkumar Ladda
- Address: Office No. 10, No. 55, Sukhniwas, 15 August Chowk, Mangalwar Peth, Pune – 411011
- Office Cell: +9199220 724607, 93098 45448
- Email: info@csladda.com
