NOTES ON EFFECTIVE PROVISIONS OF COMPANIES ACT 2013

Posted on February 27, 2014 | Leave a comment

Page 33

PUNISHMENT FOR CONTRAVENTION [SECTION 86]

If any company contravenes any provision of this Chapter i.e. provisions related to charge, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to ten lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees, or with both.

 

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