Employee
Uncategorized

Adjudication of penalties under rules 2014

The central government published in the official gazette, nominate many officers of the central government. It is not below rank of registrar as deciding officers for resolving penalty under the conditions of the act. The adjudication of penalties may be covered the government rules 2014.

Adjudication of penalties

The government while choosing deciding officers, mention their authority in the order under sub-section (1).

The deciding officer may by an order set to impose the penalty on the company. The officer who is in normal stating any non-compliance or regular under the suitable provision of the act.

The deciding officer shall, before exacting any penalty, provide a decent opportunity or being heard to such company and the default officer.

Before deciding penalty, the determining officer shall provide a written notice to the registration company and all company officers who is in typical, to show reason, within such term as may be mentioned in the notice is not less than 15 days and more than 5 days from the date of service).

The deciding officer may, for causes which to be recorded in writing, increase the period described above by a further term is not passing 15 days. If the officer or company (as relevant) meets the said officer which has decent sources for not answering the notice within the specified term.

After identifying the reason, if any, verifying by such officer or company, the deciding officer is of the chance that an inquiry should be maintain. He shall provide a notice fixing a date for the impression of such company, through its valid officer or delegates of such company.

On the fixed date for providing and after hearing a valid opportunity of being heard to the persons related, the deciding officer may causes to be recorded in writing, move any order as he expects rights containing an order for dissolution for hearing to a future date.

Each order proceed under sub-rule (4) shall be signed and dated by the deciding officer.

The deciding officer shall send a copy of the order proceed by it to the related officer or company to the government.

While keeping an inquiry, the deciding officer shall have the respective powers namely:

  • To enforce and summon the presence of any person familiar with the facts and conditions of the case.
  • To produce any document or order for evidence which in the belief of the deciding officer, may be helpful for applicable to the subject matter of the inquiry.

If any person neglects, fails or refuses to show as need under sub-rule (7) before the deciding officer, he may continue with the inquiry in the non-appearance of such person after proceedings the reasons for doing so.

While deciding the amount of penalty, the deciding officer shall have due consider to the following factors as:

  • The quantum of disproportionate earn or unequal benefits, wherever quantifiable, create as a default result.
  •  The quantum of loss created to a group of creditors or investors as a default result.
  • The repeated nature of default.
  • The total sums recognized by way of penalties under the act shall be assigned to the secured Fund of Coimbatore.
  • Any person offended by a rule made by the deciding officer under sub-section (3) may place a request to the regional director.
  • Under sub-section (5) each appeal filed within 60 days from the date on which the copy of the rules form by the deciding officer is obtained by the offended person.

 

Adjudication of penalties under rules 2014

Companies (Adjudication of Penalties) Rules, 2014

Registration of appeal

On the earnings of a request and the regional director office shall recommend the date on such sign and such request such confirmation.

If on audit, the request is found to be in order, it shall be correctly filed and provide the serial number. The company may have to appeal further registration under 2014 rules.

Where the request is found to be imperfect, the regional director may permit the litigator such time is not being less than 14 days following the receipt date is notice by the litigator from the regional director about the kind of defects. If the litigator fails to correct such defects within the time period enables above. The regional director may by rule for some reasons which are recorded in writing, reduce to register such communicate and appeal to the litigant within a period of 7 days.

The regional director may for causes to be recorded in writing, increased the period mentioned to in the first condition above by further term of 14 days. If a litigant fulfills the director which the litigant had enough reason for not correcting the faults within the term of 14 days mention in the first condition.

Every laws passed under this order shall be dated and signed by the director. A verified copy of all rules passed by the director shall be related to the deciding officer and to the litigant. He may be punishable for some amount of fees which have proper registration methods.

Disposal of appeal by regional director

On the declaration of the request, the regional director shall do a copy of appeal upon the deciding officer against whose rule the request is sought on with a notice want such deciding officer to register his reply thereto within such term, not exceeding 21 days.

The director may after providing the litigant to the request and chance of being heard, proceed such rule as he thinks fit, changing, confirming or setting aside the rule against requests.

 Where the company officer does not pay the penalty within a term of 90 days from the receipt copy of the rule. The company shall be punishable with a fine of Rs.25,000.

You may also like...

Leave a Reply