Under Section 441 of the Companies Act, 2013, the **Special Courts** u…

Question

Under Section 441 of the Companies Act, 2013, the **Special Courts** under the Act may compound offences punishable with **fine only** either before or after the institution of any prosecution. As listed in the powers table, this compounding power lies with:

Accepted Answer

D. {'text': 'The NCLT, which can compound such offences before the investigation has been initiated or while it is pending', 'label': 'D'}

1. Lesson 12's table for Chapter XXVIII ("Special Courts") includes **Section 441** of the Companies Act, 2013.
2. The entry: "**NCLT can compound certain offences** in certain cases before the investigation has been initiated or pending." Also, offences punishable with **fine only**, either before or after the institution of any prosecution, can be compounded by NCLT.
3. The compounding power reduces docket pressure on the Special Courts and offers offenders a mitigation route.
4. RBI, SEBI and IRDAI do not exercise this Companies Act compounding jurisdiction.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 12 (Special Courts, Tribunal under Companies Act and other Legislations), pp. 273-283._

Answer

{'text': 'The Insurance Regulatory and Development Authority of India under any provision of any law in force in any State of India regardless of any other consideration of any kind in respect of any offence under any law in force', 'label': 'A'}

Answer

{'text': 'The Reserve Bank of India under any provision of any law in force in any State of India regardless of any other consideration of any kind in respect of any offence under any law in force in any State of India', 'label': 'B'}

Answer

{'text': 'The Securities and Exchange Board of India under any provision of any law in force in any State of India regardless of any other consideration of any kind in respect of any offence under any law in force', 'label': 'C'}