sec 314 & 621

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2009 Guidance on the procedural issues with regard to compounding of offence under 621 for payment of remuneration to relative without approval u/s 314 required.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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11 December 2009 Following is the procedure;

1. An application shall be made to the Registrar electronically in e-form 61.

2. The concerned Registrar will forward the application together with his comments to the concerned bench of the CLB within whose jurisdiction the registered office of the company is situated.

3. The CLB on scrutiny of the said application will give to the company a notice of hearing.

4. After hearing all the parties, CLB shall pass an order specifying the amount to be credited to the Central Government account for compounding the offence.

5. After the passing of the compounding order, pay the composition fee together with e-form 21 which will be specified in the compounding order.

6. Intimation to the Registrar shall be given within 7 days from the date on which the offence is so compounded electronically in e-form 21 alongwith a copy of the order and resolution passed by the Board of directors of the company.

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2009 How and on basis will the amount to be paid to the central Govt. be determined.

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