Cases reported in (2013) 6 SCC Part 2 – July 14, 2013 V.L.S. - TopicsExpress



          

Cases reported in (2013) 6 SCC Part 2 – July 14, 2013 V.L.S. Finance Ltd. v. Union of India, (2013) 6 SCC 278 (Civil Appeal No. 2102 of 2004, decided on May 10, 2013): Prior permission of criminal court is not required before composition/compounding of offences specified under S. 621-A(1) by Company Law Board/Other authorities. Powers under Ss. 621-A(1) & (7) are concurrent/parallel powers to be exercised by Company Law Board/Other authorities or court in seisin of the matter with the difference that Company Law Board can proceed to compound such offence either before or after institution of any prosecution whereas criminal court possesses similar power to compound such offence only after institution of prosecution.
Posted on: Sat, 17 Aug 2013 04:13:13 +0000

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