State Act
7
Section 7. Compounding of offence
THE ODISHA PROTECTION OF INTERESTS OF DEPOSITORS (IN FINANCIAL ESTABLISHMENT) ACT, 2011
Act no. 21 of 20132013In forceOdisha (State Act)
7. Compounding of offence :- (1) An offence punishable under section 6 may, before the institution of the prosecution, be compounded by the Competent Authority or after the institution of the prosecution, be compounded by the Competent Authority with the permission of the Designated Court on payment of the entire amount due to the depositors with or without interest. (2) Where an offence has been compounded under sub-section (1), no proceeding or further proceeding or further proceeding or further proceeding, as the case may be, shall be taken or continued against the offender, if in custody, shall be discharged forthwith.