2017 (3) TMI 752

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..... nal provisions also. Given the circumstances, find that the present prayers for compounding in all these petitions cannot be permitted, as these were not due to any bonafide omission or a delayed rectification of a statutory requirement. The offences herein under the Companies Act and those under the Penal Code are intrinsically linked and incurable. Compounding of the offences under the Companies Act would hamper the Criminal Prosecutions and no accused should be allowed to get away with deliberate large scale bungling and fabrication of documents carried out with criminal intention. Petitioner/applicant is not entitled to compounding of the offences under the Companies Act. - CO. PETITION NOS. 16/152 TO 16/155 & 16/157 OF 2015 - - - D .....

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..... 11(1). 3. The office of the RoC initiated prosecution against the applicant and the company and several other persons for various defaults which are pending adjudication in the Courts at Tis Hazari, Delhi. The offences were also referred to the SFIO which in turn has launched Criminal Prosecution for serious offences involving Sections 477A, 464, 471, 405 r/w 406, 418, 107, 409, 120A r/w 120B under the Indian Penal Code (r/w offences under the Companies Act). It is submitted that on the basis of documentary and oral evidences, a compliant case no. 38J/2014 against Subhinder Singh Prem and 34 others was filed in the Gurgaon Courts. The charge sheet has been filed under Sections 420, 477A, 406 IPC read with the relevant provisions of the C .....

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..... with a gateway to escape the trauma of a protracted trial for a bonafide mistake. The alternate to payment of fines is imprisonment. The legislature has provided that the resort to imprisonment should not be done unless the offence is deliberate and malafide. The discretion to compound the offence has therefore to be considered on the merits of each case, whether such a mistake was inadvertent bonafide or deliberate. 6. The investigations in this case have clearly revealed that non adherence to statutory compliances was deliberate and malafide as there was vast scale fabrication of documents giving rise to fraud, in conspiracy with a larger group. 7. There is merit in the arguments advanced by the Ld. Counsel for the SFIO that non-a .....

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