Explain whether the following offences under the Companies Act, 2013 are compoundable, if yes, by whom? (iv) Functioning as a Director after vacation of office.

According to section 167(2), if a person, functions as a director even when he knows that the office of director held by him has become vacant on account of any of the disqualifications specified in subsection (1), he shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees. In view of the above, it can be said that the offence is Compoundable and powers vested with Regional Director or any other officer authorised by Central Government. However, National Company Law Tribunal can also compound this offence.