Section 76A: Punishment for contravention of section 73 or section 76.

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

[76A. Punishment for contravention of section 73 or section 76.-- Where a company accepts or invites or allows or causes any other person to accept or invite on its behalf any deposit in contravention of the manner or the conditions prescribed under section 73 or section 76 or rules made thereunder or if a company fails to repay the deposit or part thereof or any interest due thereon within the time specified under section 73 or section 76 or rules made thereunder or such further time as may be allowed by the Tribunal under section 73,--

(a) the company shall, in addition to the payment of the amount of deposit or part thereof and the interest due, be punishable with fine which shall not be less than [one crore rupees or twice the amount of deposit accepted by the company, whichever is lower] but which may extend to ten crore rupees; and

(b) every officer of the company who is in default shall be punishable with imprisonment which may extend to [seven years and with fine] which shall not be less than twenty-five lakh rupees but which may extend to two crore rupees, ***:

Provided that if it is proved that the officer of the company who is in default, has contravened such provisions knowingly or wilfully with the intention to deceive the company or its shareholders or depositors or creditors or tax authorities, he shall be liable for action under section 447.]

Where this provision sits

Act	The Companies Act, 2013
Section	76A
Marginal note	Punishment for contravention of section 73 or section 76.
Jurisdiction	Central
Status	In 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.

inserted, Act 21 of 2015. . Ins. by Act 21 of 2015, s. 8 (w.e.f. 29-5-2015).
substituted, Act 1 of 2018. . Subs. by Act 1 of 2018, s. 17, for "one crore rupees" (w.e.f. 9-2-2018).
substituted. . Subs. by s. 17, ibid., for "seven years or with fine" (w.e.f. 9-2-2018).
omitted. . The words "or with both" omitted by s. 17, ibid. (w.e.f. 9-2-2018).

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

Search 49,000+ Central and State enactments by what a provision says, not by its number
Jump from any section to every judgment that has applied it
Search 300 million+ Indian court records alongside the statute
Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? The Companies Act, 2013 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.