Section 1

[(2) where any company fails to comply with the provisions of sub-section (1), such company rupees and every officer who is in default shall be liable to a penalty of 2 [five hundred rupees] for each day during which such default continues, 3 [subject to a maximum of five lakh rupees in case of a company and one lakh rupees in case of an officer who is in default].]

Back to Act Act Subordinates

1 [(2) where any company fails to comply with the provisions of sub-section (1), such company rupees and every officer who is in default shall be liable to a penalty of 2 [five hundred rupees] for each day during which such default continues, 3 [subject to a maximum of five lakh rupees in case of a company and one lakh rupees in case of an officer who is in default].]