Offences by companies:- (1) Where an offence against any of the

1. (1) Where an offence against any of the provisions of this Act or any rule made thereunder has been committed by a company, every person who, at the time the offence was committed, as to the regularity, correctness, legality or propriety of any decision or order passed therein, and if, in any case it appears to the State Government that any such decision or order should be modified, annulled or reversed or remitted for reconsideration, they may pass order accordingly : Provided that the State Government shall not pass any order adversely affecting any party unless such party has had an opportunity of making a representation. (2) The State Government may stay the execution of any such decision or order pending the exercise of powers under sub-section (1) in respect thereof. (3) Every application preferred under sub-section (1) shall be made within such time and in such manner and accompanied by such fees as may be prescribed.

provisions of this Act or any rule made thereunder has been committed by a company, every person who, at the time the offence was committed,

as to the regularity, correctness, legality or propriety of any decision or

order passed therein, and if, in any case it appears to the State Government

that any such decision or order should be modified, annulled or reversed or remitted for reconsideration, they may pass order accordingly :

Provided that the State Government shall not pass any order adversely affecting any party unless such party has had an opportunity of making a representation.

1. (2) The State Government may stay the execution of any such decision or order pending the exercise of powers under sub-section (1) in respect thereof.
2. (3) Every application preferred under sub-section (1) shall be made within such time and in such manner and accompanied by such fees as may be prescribed.