IN RE Vs. BHANUENERGY INDUSTRIAL DEVELOPMENT

JUDGEMENT

(1.) This petition u/s 441 of the Companies Act 2013 for compounding of the defaults under sections 149, 177, 178 and 450 has been filed on behalf of the Company M/s. Bhanuenergy Infrastructure & Power Ltd., and its officers who were in charge and responsible for its affairs. As per the provision of Section 178(8), the company is liable to be punished with fine which would not be less than Rs. 1 lac and which may extend upto Rs. 5 Lacs and every officer of the company who is in default would be punishable with a term which may extend upto one year or with fine which would not be less than Rs. 25,000/- but which may extend to Rs. 1 Lac or with both.

(2.) The petitioners having realized their default have taken remedial steps and pray for compounding of the offence u/s 441 of the Companies Act, 2013.

(3.) As per the provisions of the Companies Act 2013, Section 441 provides for