NCLT allows compounding of offence punishable u/s 450 and fines Rs. 5000 against officers for violating section 19

CL : Where petitioner sought compounding of offence punishable under section 450, wherein petitioner-company allotted equity shares to its subsidiary company in violation of section 19, each officer in default as members of Board of Directors was to be subjected to a fine of Rs. 5000 as a deterrent for not repeating default in future and offence was ordered to be compounded subject to remittance of compounding fee imposed

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