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TATA Technologies Limited filed a compounding application for inadvertently breaching Section 67(3) of the Companies Act, 1956 by allotting shares to more than 49 persons during certain financial years. The National Company Law Tribunal (NCLT) found the breach to be unintentional and imposed a compounding fee of Rs. 3,42,11,500 as a deterrent for future violations. The company must pay the fee within 30 days for the offence to be compounded.

Author

agrimgupta234

Language

EN