Supreme Court of India
V.l.s Finance Ltd. v. Union of India & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
5 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the power under sub-section (1) and sub-section (7) of Section 621A are parallel powers to be exercised by the F Company Law Board or the authorities mentioned therein and prior permission of Court is not necessary for compounding the offence, when power of compounding is exercised by the Company Law Board.
Judgment, page 14
From the headnote
Companies Act, 1956 - ss. 621A(1) and (7) and 211(7) - Complaint for offence punishable u/s. 211 (7) pending before criminal court - Compounding of the offence by Company Law Board - Permissibility - Held: In view of the nature of the offence, it can be compounded by Company Law Board before as well as after institution of prosecution - Company Law Board was not obliged to take permission of the Court before compounding the offence. Interpretation of Statutes - Rules of interpretation - When the language of a provision is clear, it should be interpreted in its ordinary sense - Addition or
Where later benches applied it
- 2021 Prakash Gupta v. Securities and Exchange Board of India
- 2020 Indore Development Authority v. Manoharlal & Ors. Etc.
- 2017 Excel Crop Care Limited v. Competition Commission of India and Another
- 2015 Rajendra Shankar Shukla & Ors. Etc. v. State of Chhattisgarh & Or$. Etc
- 2015 M/s Ariane Orgachem Pvt. Ltd. v. Wyeth Employees Union & Ors.
Of those, 5 referred to
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