The government is considering to let 85-90 percent of minor violations related to the Companies Act be dealt outside the court, reported The Times of India.

The government will leave 34 sections of the law untouched, which are the serious offences and provide for fine and imprisonment, the report added.

Out of 470 provisions of the Companies Act, 136 have penal provisions for various violations. Of these, 18 can be adjudicated in-house and 118 sections of the law cover prosecution to be filed in various forums for other offences, sources told the paper.

"Only 15-20 provisions are responsible for pile-up of cases. The panel will see if it makes sense to have a traffic challan kind of a system, where minor offenders are let off after paying fine," the report said quoting sources.

Violations by companies - both large and small - have resulted in nearly 45,000 cases ending up in courts and the National Company Law Tribunal (NCLT), of which around 75 percent are related to non-filing of annual returns and balance sheet.