Explain whether the following offences are compoundable, if yes, by whom? (iii) Failure to maintain proper books of accounts before winding up.

According to section 338 of the Companies Act, 2013, where a company is being wound up, if it is shown that proper books of account were not kept by the company throughout the period of two years immediately preceding the commencement of the winding up, or the period between the incorporation of the company and the commencement of the winding up, whichever is shorter, every officer of the company who is in default shall, unless he shows that he acted honestly and that in the circumstances in which the business of the company was carried on, the default was excusable, be punishable with imprisonment for a term which shall not be less than one year but which may extend to three years and with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees. In view of Sec 441 the above, the offence is non-compoundable as the punishment involves imprisonment as well.