Filing of prosecution under sections 162 and 220 - Complaints in respect of offences providing for fine only are to be filed within six months from the date of offence

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..... spect of offences providing for fine only are to be filed within six months from the date of offence It has come to the notice of this Department that some trial courts have held that the offences under sections 162 and 220 of the Companies Act and rule 11 of Companies (Acceptance of Deposit) Rules, 1975 are not continuing offences, relying on the judgment of Calcutta High Court in the matter o .....

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..... You are advised to take prompt action in filing prosecutions and the procedure of issuing default/pre-prosecution notices be streamlined, accordingly. The prosecutions arising out of inspection investigation reports will also require speedy action at all levels, so that sanction for filing prosecution is accorded sufficiently in advance and the complaints are filed well in time. - Circular - T .....

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