[172. Penalty.-- If a company is in default in complying with any of the provisions of this Chapter and for which no specific penalty or punishment is provided therein, the company and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees, and in case of continuing failure, with a further penalty of five hundred rupees for each day during which such failure continues, subject to a maximum of three lakh rupees in case of a company and one lakh rupees in case of an officer who is in default.]
Section 172: Penalty.
The Companies Act, 2013Central Act · Act 18 of 2013
Where this provision sits
| Act | The Companies Act, 2013 |
|---|---|
| Section | 172 |
| Marginal note | Penalty. |
| Jurisdiction | Central |
| Status | In force as published by the source |
| Judgments citing it | 1 |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, Act 29 of 2020. . Subs. by Act 29 of 2020, s. 35, for section 35 (w.e.f. 21-12-2020).
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