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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