13000 companies prosecuted for non compliance

Amrendra Bhardwaj

The Government has informed Lok Sabha that 13,437 companies were prosecuted for non compliance of provisions of the Companies Act, 1956 during the last three years i.e. during the years 2006-07, 2007-08 and 2008-09.

In reply to a question, Salman Khurshid, Minister for Corporate Affairs, informed the House that 4,531 cases are pending for prosecution and process of filing prosecution in these cases has been initiated.

Stringent provisions have been proposed under different clauses of the Companies Bill, 2009 - that was introduced in the Lok Sabha on 3rd Aug, 2009 - for non compliance of provisions of the Bill.

Section 631 of the existing Companies Act, 1956 provides for penalty against persons who carry on the business under any name or title in which the word “limited” or the word “private limited” are used, meaning thereby posing themselves to be carrying on business as a limited company without actually getting it registered under the Companies Act.

The punishment provided under Section 631 is fine which may extend to five hundred rupees for every day upon which the name or title has been used. Provisions corresponding to existing section 631 of the Companies Act, 1956 have been retained in the Companies Bill, 2009, with enhanced punishment by way of minimum fine of Rs.1 lakh which is extendable up to Rs.5 lakh. 

Twitter accounts have grown more than 1,500%

Biz Stone

Hi!

We've had quite a year. If you haven't visited in a while, we'd like to invite you to come have a look at http://twitter.com -- we've been busy!

Growing Up

In the course of a year, registered Twitter accounts have grown more than 1,500% and our team has grown 500%. Recently, we hired our 140th employee! His name is Aaron and he's an engineer focused on building internal tools to help promote productivity, communication, and support within our company. We celebrated with a little dance party.

Features of Note

Some features of note that we released over the course of a year include the ability to create lists, quickly spread information with a retweet button, and an easier way to activate your mobile phone to work with Twitter over SMS. We also built a new mobile web site that looks and works much better on smart phones.

Feeling Inspired

By working together during critical times when others needed help, sharing important information that otherwise might not make the news, and inventing new and interesting ways to use Twitter, you've shown us that Twitter is more than a triumph of technology -- it is a triumph of humanity. Projects likeFledgling and Hope140 were inspired by you.

Chirp!

While there may only be 140 full-time employees working at the Twitter offices, there are thousands of dedicated platform developers who have now created more than 70,000 registered Twitter applications creating variety and utility for all of us. We'll be gathering this spring at Chirp, our first ever official Twitter developer conference.

Biz Stone is the co-founder Twitter, Inc