Friday, August 19, 2016

Section 450 of Companies Act 2013

Section 450 of Companies Act 2013 :-

Punishment where no specific penalty or punishment is provided.

If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made there under, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be punishable with fine which may extend to ten thousand rupees, and where the contravention is continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues.

India's Important Case Laws and Landmark Judgments on Companies Act 2013.

Section 450 Companies Act 1956 has been repealed.

No comments:

Post a Comment