Discuss: Whether the Companies Act, 2013 bars filing of a joint application for compounding of offence by a defaulting company along with its officers in default?

The Companies Act, 2013 does not provide for any bar on filing of joint application for compounding of offence by a defaulting company along with its officers in default. Section 441(1) of the Companies Act, 2013 provides that any offence punishable under this Act whether committed by a company or any officer thereof not being an offence punishable with imprisonment only, or punishable with imprisonment and also with fine, may, either before or after the institution of any prosecution, be compounded by: the Tribunal; or where the maximum amount of fine which may be imposed for such offence does not exceed twenty-five lakh rupees, by the Regional Director or any officer authorised by the Central Government.