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Section 446B: Lesser penalties for One Person Companies or small companies.

The Companies Act, 2013Central Act · Act 18 of 2013

[446B. Lesser penalties for certain companies.--Notwithstanding anything contained in this Act, if penalty is payable for non-compliance of any of the provisions of this Act by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not be more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person, as the case may be.

Explanation.--For the purposes of this section,--

(a) "Producer Company" means a company as defined in clause (l) of section 378A;

(b) "start-up company" means a private company incorporated under this Act or under the Companies Act, 1956 (1 of 1956) and recognised as start-up in accordance with the notification issued by the Central Government in the Department for Promotion of Industry and Internal Trade.]

Where this provision sits

ActThe Companies Act, 2013
Section446B
Marginal noteLesser penalties for One Person Companies or small companies.
JurisdictionCentral
StatusIn force as published by the source

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. 62, for section 446B (w.e.f. 22-1-2021).

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