Compounding of an offence

Dear all,

I needed a certain clarification regarding the compounding of offences. Our company had flouted the norms of section 372A of the companies Act, 1956 by  providing security in excess of its free reserves & hence wishes to get the same compounded. However; is it necesarry to make the offence good before the same can be compounded ? How will we make the said offence good when when a security to that regard is already provided,  will the shareholder vide a postal ballot ( ours is a listed company) ratify the boards actions ? Kindly remember that no section in the Companies Act, allows such a ratification.

Hence the question remains that do we have to make our offence good or merely paying of the compounding fees will be enough.

I hope I am clear with my question. Please feel free to ask me if there is any doubt.

Regards,

Sagnik Sanyal