Amendment status not verified — confirm the current text below against the official source.
(1) The Commission may, either before or after the institution of proceedings, for any offence punishable under section 53 or 54 accept from any person charged with such offence by way of composition of the offence a sum not exceeding Offences by companies. Cognisance of offences. 2 of 1974. Compounding of offences. xlii (i) five lakh rupees, where the offence charged is under section 53, and (ii) two lakh rupees, where the offence charged is under section