prpri Sections in Companies Act which has Penal Provisions subjected to In-House Adjudication Framework Sections in Companies Act which has Penal Provisions subjected to In-House Adjudication Framework

Sections in Companies Act which has Penal Provisions subjected to In-House Adjudication Framework

With the Advent of Companies Amendment Act 2020 MCA has focused on In-House Adjudication.

In house Adjudication Mechanism has been brought forth to unburden the NCLT and special Courts under Companies Act 2013. Non-Compliances by the Companies triggers the Penalty across various sections of the Companies Act and Wherever the term “Liable to penalty” is used in the act the same is dealt by ROC being the Adjudicating officer.

Here is the gist of sections which are dealt in In-House Adjudication framework under Companies Act 2013

Total No. of section under In-House Adjudication is 58.

Here is the gist of sections which are dealt in In-House Adjudication framework under Companies Act 2013

Total No. of section under In-House Adjudication is 58.

Statement showing Sections which the Company has violated and sections under which prosecutions are initiated by the ROC themselves under Companies Act 2013

Chapter No. Chapter Name Section violated Section of prosecution filing
II Incorporation of company and matters incidental thereto 4(4) 4(5)
10A(1) 10A(2)
12 12(8)
15(1) 15(2)
17 17(2)
III Part 1

 

Public offer

 

33 33(3)
39(3) and 39(4) 39(5)
III part 2 The Companies(Private placement) 42(8) 42(9)
42 42(10)
IV Share capital and debentures 53 53(3)
56(1)-56(5) 56(6)
60(1) 60(2)
64(1) 64(2)
VI Registration of Charges Chapter 6 86(1)
VII Management and Administration

 

88(1) and 88(2) 88(5)
89(1)-89(3) 89(5)
89(6) 89(7)
90(10) 90(10)
90(2) and 90(4) 90(11)
91(1) 91(2)
92(4) 92(5)
92 92(6)
94 94(4)
102 102(5)
105(2) 105(3)
105(5)- 105(5)-
111 111(5)
117(1) 117(2)
118 118(11)
119(1) and 119(2) 119(3)
121(2) 121(3)
VIII Declaration and Payment of Dividend 124 124(7)
IX Accounts of Companies 134 134(8)
135(5) and 136(6) 135(7)-
136 136(3)
137(1) and 137(2) 137(3)
X Audit and Auditors 140(2) 140(3)
143(12) 143(15)-
XI

 

 

 

Appointment and qualification of Directors

 

 

 

157(1) 157(2)
section 152, section 155 and section 156 159
165 165(6)
Chapter XI where no specific penalty is prescribed 172
XII

 

 

 

 

 

 

 

Meeting of Board and its powers

 

 

 

 

 

 

 

173(3) 173(4)
Section 177 and section 178 178(8)
184(1)-184(2) 184(4)
187 187(4)
188 188(5)
189 189(6)
190(1) and 190(2) 190(3)
191 191(5)
XIII

 

 

Appointment and remuneration of managerial personnel

 

 

197 197(15)
203 203(5)
204 204(4)
XV

 

Compromises, Arrangements, and Amalgamations

 

232(5) 232(8)
238(1) 238(3)
XVII Registered Valuers 247 247(3)
XXV Companies to furnish information or statistics 405(1) and 405(3) 405(4)
XXIX Miscellaneous Contravening any provision where no specific penalty is prescribed 450

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Qualification: Student - CA/CS/CMA
Company: Indian Corporate Law Service Academy
Location: Gurgaon, Haryana, India
Member Since: 10 Jul 2021 | Total Posts: 3

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