Compounding of certain offences.441. (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), any offence punishable under this Act (whether committed by a company or any officer thereof)
[not being an offence punishable with imprisonment only, or punishable with imprisonment and also with fine], may, either before or after the institution of any prosecution, be compounded by-
| (a) | - | the Tribunal; or |
| (b) | - | where the maximum amount of fine which may be imposed for such offence [does not exceed twenty-five lakh rupees], by the Regional Director or any officer authorised by the Central Government, |
on payment or credit, by the company or, as the case may be, the officer, to the Central Government of such sum as that Tribunal or the Regional Director or any officer authorised by the Central Government, as the case may be, may specify:
Provided that the sum so specified shall not, in any case, exceed the maximum amount of the fine which may be imposed for the offence so compounded:
Provided further that in specifying the sum required to be paid or credited for the compounding of an offence under this sub-section, the sum, if any, paid
.... To read the full section download the app from Google Play store
CAclubindia
