|
Sr. No |
Section |
Nature of Default |
Penalty |
Persons to be held responsible for offence |
|
1 |
168 |
Failing to hold AGM in accordance with section
166 |
50,000/-
+2,500 per day. |
The company and every officer of the company who
is in default. |
|
2 |
220(3) |
Failure to file Annual Accounts with MCA |
Rs.500/- per day |
The company and every officer of the company who
is in default. |
|
3 |
210(5) (6) |
Default in laying Accounts at the AGM
|
Imprisonment up to
6 months or fine up to
10,000 or both. |
Any person, not being a director of the company. |
|
4 |
218 |
Improper issue, circulation or publication of
Balance sheet or Profit and Loss Account |
Fine up to Rs 5,000/- |
The company and every officer of the company who
is in default. |
|
5 |
219(3) |
Failure to sent members Annual Accounts /
Auditors Report 21 days before meeting. |
Fine up to Rs.5,000/- |
The company and every officer of the company who
is in default. |
|
6 |
219(4)
|
Default in complying with certain demands for
copies of Annual Accounts within 7 days |
Fine up to Rs.5,000/- |
The company and every officer of the company who
is in default. |
|
7 |
162(1) |
Non compliance with the provisions of section
150, 160 or 161 wrt Annual Return. |
Fine up to Rs.500/- Per day. |
The company and every officer of the company who
is in default. |
|
8 |
|
Failure to file with MCA certain Resolutions or
Agreements entered in accordance with section 192 (1) |
Fine up to Rs.200/- Per day. |
|
|
9 |
217(5) (6) |
Default in complying with the provisions of
subsection (1) to (3) regarding Boards report. |
Imprisonment up to 6 months or fine up to
Rs.20,000/-or with both |
|
|
10 |
171(1) (2) |
Contents & manner of service of notice in
contravention of the provisions of the Act. |
Fine up to 5,000/-& further 500 for each day or
default. |
|
|
11 |
193(6) |
Noncompliance with provisions of 193 regarding
minutes of proceedings of General Meeting. |
Fine up to Rs.500/- |
The company and every officer of the company who
is in default. |
|
12 |
176(2) |
Omitting to state in notice that a member is
entitled Appoint a proxy and that the proxy need not be a member. |
Fine up to Rs.5,000/- |
Every officer of the company who is in default. |
|
13 |
211(7) (8) |
Failure to prepare Annual Accounts in he form &
contents specified in the section. |
Imprisonment up to 6 months or Rs.10, 000 or
both. |
|
|
14 |
142 |
Non-Filing of registration of any charge created
by the company, the payment or satisfaction of a debt in respect of which a
charge has been registered under this part, or of the issue of debentures of
a series. |
Fine upto Rs. 5,000/- for every day during which
the default continues. |
The company and every officer of the company who
is in default. |
|
15 |
143 |
Wilfully omission of any entry in the Registrer
of charges. |
Fine upto Rs. 5,000/- |
Any officer of the company |
|
16 |
144 |
Refusal for inspection of Register of Charge. |
Fine upto Rs. 500 which amy extend to Rs. 200
for every day during which the refusal continues. |
The company and every officer of the company who
is in default. |
|
17 |
146 |
Failure to intimate Registrar about change of
Registered Office. |
Fine upto Rs. 500/- for every day during which
the default continues. |
The company and every officer of the company who
is in default. |
|
18 |
147(1) (a)
|
Failure to paint or affix the name and the address of the company or to keep
the same painted or affixed outside the office |
Fine upto Rs.
500/- for every day during which its name not so kept painted or affixed.
|
The company and every officer of the company who
is in default. |
|
19 |
147(1) (b)&(c) |
Failure to print its name on the seal or on
letter heads, notices, hundies, promissory notes, cheques etc. |
Fine upto Rs. 5,000/- |
The company |
|
20 |
148 |
Failure to publish Authorised, Subscribed and
Paid – up Capital simultaneously. |
Fine upto Rs. 10,000/- |
The company and every officer of the company who
is in default. |
|
21 |
150 |
Failure to maintain Register of members |
Fine upto Rs. 500/- for every day during which
the default continues |
The company and every officer of the company who
is in default. |
|
22 |
151 |
Failure to maintain Index of members. |
Fine upto Rs. 500/- |
The company and every officer of the company who
is in default. |
|
23 |
152 |
Failure to maintain Index of Debenture holders. |
Fine upto Rs. 500/- |
The company and every officer of the company who
is in default. |
|
24 |
25 |
Failure to renew the license of maintaining the
words “Chambers of Commerce” in its name. |
Fine upto Rs. 5000/- for every day during which
the default continues. |
|
|
25 |
44(3) |
Failure to
intimate the Registrar about any alteration in Article |
Fine upto Rs. 5000/- for every day during which
the default continues. |
The company and every officer of the company who
is in default. |
|
26 |
44(4) |
Untrue statement
filed in any prospectus or statement in lieu of prospectus filed |
Fine upto Rs. 50,000/- and imprisonment upto 2
years. |
Any person who authorized the filing of such
prospectus. |
|
27 |
40 |
Default in
alteration is made in memorandum or articles in each copy after the
alteration in MOA and AOA |
Rs. 100/- for each copy so issued. |
The company and every officer of the company who
is in default. |
|
28 |
49 |
Investments of
company to be held in its own name. |
Fine upto Rs. 50,000/- |
|
|
29 |
153B(3)(a) |
Non-declaration by trustee of shares and
debentures held in trust. |
Fine upto Rs. 5,000/- which may extend to a
further fine of Rs. 100 for every day during which the default continues. |
Trustee |
|
30 |
153B(3)(b) |
False declaration by trustee. |
Imprisonment for a term which may extend to two
years and also with fine. |
Trustee |
|
31 |
154 |
If the register of members and debenture holders
is closed without giving notice or giving a notice of less than 7 days. |
Fine upto Rs. 5,000/- for every day during which
the register is so closed. |
The company and every officer of the company who
is in default. |
|
32 |
162(1) |
Failure in complying with the provisions of
section – 159, 160 and 161 (regarding filing of Annual Return) |
Fine upto Rs. 500/- for every day during which
the default continues. |
Every officer of the company who is in default. |
|
33 |
163 |
If any inspection, or the making of any extract
u/s 163 is not sent. |
Fine upto Rs. 500/- for every day during which
the refusal or default continues. |
The company and every officer of the company who
is in default. |
|
34 |
165 |
If default is made in complying with section 165
(holding of Statutory Meeting and preparation of Statutory Report) |
Fine upto Rs. 5,000/- |
Every Director or other officer of the Company
who is in default.
|
|
35 |
168 |
If default is made in holding an AGM (Sec 166)
or in complying with any directions of the CG (Sec 167). |
Fine upto Rs. 50,000/- + Rs. 2,500 for
every day after the first during which such default continues. |
The company and every officer of the company who
is in default. |
|
36 |
176(2) |
Default in giving the Proxy Form at the end of
Notice for meeting. |
Fine upto Rs. 5,000/- |
Every officer of the company who is in default. |
|
37 |
188 |
Default in complying with section 188 (regarding
circulation of member’s resolution) |
Fine upto Rs. 50,000/- |
Every officer of the company who is in
default. |
|
38 |
192A(5) |
If a shareholder sends his assent or dissent
under Sec-192A(2) in writing on a postal ballot and thereafter any person
fraudulently defaces or destroys the ballot paper or declaration of identity
of the shareholder. |
Imprisonment for a term which may extend
to six months or with fine or both.
|
|
|
39 |
192A(6) |
Default in complying with sec- 192A(1) to
192A(4) (Regarding passing of resolutions by postal ballot) |
Fine upto Rs. 50,000/- in respect of each such
default. |
The company and every officer of the company who
is in default. |
|
40 |
193(6) |
Default in complying with the provisions of
sec-193 in respect of any meeting (Minutes of proceedings of General Meeting
and of Board and other meetings). |
Fine upto Rs. 5,000/- |
The Company and every officer of the company who
is in default. |
|
41 |
196(4) |
If inspection of minute books is refused
or any copy of minutes, if demanded, is not furnished. |
Fine upto Rs. 5,000/- in respect of each
offence. |
The Company and every officer of the company who
is in default.
|
|
42 |
202 |
If an undischarged insolvent discharges any of
the functions of a Director. |
Imprisonment for a term which may extend
to two years or with fine of upto Rs. 50,000/- or with both. |
|
|
43 |
203(7)
|
If any person acts in contravention of an order
made under sec-203. |
Imprisonment for a term which may extend
to 2 years or with fine upto Rs. 50,000/- or with both. |
|
|
44 |
58A(5)
|
Default in repayment of amount of deposit. |
Fine not less than twice the amount in relation
to which the repayment of deposit has not been made and imprisonment for a
term which may extend to 5 years. |
The company and every officer of the company who
is in default.
|
|
45 |
58A(6) (a)(i) |
If a company accepts any deposit in excess of
the limits prescribed. |
Fine which shall not be less than an amount
equal to the amount of deposit so accepted and imprisonment for a term which
may extend to 5 years. |
The company and every officer of the company who
is in default. |
|
46 |
58A(6) (a)(ii)
|
If a company invites any deposit in excess of
the limits prescribed. |
Fine which may extend to Rs. 10,00,000/- but
shall not be less than Rs. 50,000/- and imprisonment for a term which may
extend to 5 years. |
The company and every officer of the company who
is in default. |
|
47 |
58A(10) |
Failure in compliance with the order of Company
Law Board passed under Sec-58A(9) regarding repayment of deposit. |
Imprisonment which may extend to 3 years and
fine of not less than Rs. 500 for every day during which such non-compliance
continues. |
Whoever fails to comply with the order. |
|
48 |
58AA (9) |
Failure in compliance with the order of Company
Law Board passed under Sec-58AA(9). |
Imprisonment which may extend to 3 years and
fine of not less than Rs. 500 for every day during which such non-compliance
continues. |
Whoever fails to comply with the order. |
|
49 |
59 |
If any prospectus is issued in contravention of
sec- 57 & 58. |
Fine which may extend to Rs. 50,000 |
Any person who is knowingly a party of the
issue. |
|
50 |
60(5) |
If a prospectus is issued without a copy being
delivered to the Registrar or without the copy so delivered having endorsed
thereon and attached thereto the required consent or documents. |
Fine which may extend to Rs. 50,000/- |
The company and every person who is knowingly
the party of the issue. |
|
51 |
63 |
Mis-statement or untrue statement in prospectus. |
Imprisonment for a term which may extend to 2
years or wit fine which may extend to Rs. 50,000/- or with both. |
Every person who authorized the issue of
prospectus. |
|
52 |
68
|
Any person who knowingly or recklessly makes any
statement, promise or forecast which is false, deceptive or misleading.
|
Imprisonment for a term which may extend to 5
years or with fine which may extend to Rs. 1,00,000/-or with both. |
Any person. |
|
53 |
68A |
Any person who makes application in a fictitious
name for acquiring shares, etc. |
Imprisonment for a term which may extend to 5
years. |
Any person. |
|
54 |
69(4) |
Contravention of the provisions of sec-69(4)
regarding deposit and refund of application money received. |
Fine which may extend to Rs. 50,000/- |
Every Promoter, Director or other person who
knowingly responsible for such contravention. |
|
55 |
70(5) |
Where a statement in lieu of prospectus
delivered to the Registrar includes any untrue statement. |
Imprisonment for a term which may extend
to 2 years or with fine which may extend to Rs. 50,000/- or with both. |
Every person who authorized the delivery of
statement in lieu of prospectus for registration. |
|
56 |
73(2B) |
If default is made in complying with the
provisions of Sec -73(2A) which states that where permission has been
granted by the Recognised Stock Exchange for dealing in shares or debentures
in such stock exchange and the moneys received from the applicants for
shares or debentures are in excess of the aggregate of the application
moneys relating to the shares or debentures in respect of which allotments
have been made, the company shall repay the moneys to the extent of such
excess forthwith without interest, and if such money is not repaid within
eight days, from the days company liable to pay it. |
Fine which may extend to Rs. 50,000 and where
repayment is not made within 6 months from the expiry of eighth day, also
with imprisonment which may extend to one year. |
The company and every officer of the company who
is in default.
|
|
57 |
73(3) |
Failure in keeping the money received in a
separate bank account maintained with a schedule bank. |
Fine which may extend to Rs. 50,000/-
|
The company and every officer of the company who
is in default.
|
|
58 |
79(4) |
Every prospectus relating to the issue of the
shares shall contain particulars of the discount allowed on the issue of the
shares or of so much of that discount as has not been written off at the
date of the issue of the prospectus. |
Fine which may extend to Rs. 500/-.
|
The company and every officer of the company who
is in default. |
|
59 |
207 |
Failure to distribute dividends within thirty
days. |
Simple imprisonment for a term which may extend
to three years and shall also be liable to fine of Rs. 1000/- for every day
during which the default continues and the company shall also be liable to
pay simple interest at the rate of 18% p.a. during the period for which such
default continues. |
Every Director of the Company, if he is
knowingly a party to the default. |
|
60 |
218 |
Improper issue, circulation or publication of
Balance Sheet or Profit and Loss A/c. |
Fine which may extend to Rs. 5000/-
|
The Company and every officer of the company,
who is in default. |
|
61 |
232 |
Default in complying with the provisions of
Sec-225 to 231. |
Fine which may extend to Rs. 5000/- |
The company and every officer of the company who
is in default. |
|
62 |
233 |
Non-compliance by auditors with the provisions
of Sec 227 and 229 |
Fine which may extend to Rs. 10,000/- |
The Auditor concerned, and the person, if any,
other than the auditor who signs the report or signs or authenticates the
document. |
|
63 |
272 |
If, after the expiry of the said period of two
months, any person acts as a director of the company when he does not hold
the qualification shares ( as referred in sec- 270) |
Fine which may extend to Rs. 500 for every day
between such expiry and the last day on which he acted as a director. |
Any person who acts as a Director. |
|
64 |
279 |
If any person who holds office, or acts, as a
Director of more than 15 companies in contravention of the provisions. |
Fine which may extend to Rs. 50,000/- in respect
of each of those companies after the first 20. |
Any person who holds office or acts as a
Director. |
|
65 |
302(5) |
Failure in disclosing to members of Director’s
interest in contract appointing manager, managing director. |
Fine which may extend to Rs. 10,000. |
The company and every officer of the company who
is in default.
|
|
66 |
303(3) |
Failure in maintaining the Register of director.
|
Fine which may extend to Rs. 500/- for every day
during which the default continues. |
The company and every officer of the company who
is in default. |
|
67 |
304(2) |
Refusal for inspection of Register of director.
|
Fine which may extend to Rs. 500/- |
The company and every officer of the company who
is in default. |
|
68 |
308 |
Duty of directors and persons deemed to be
directors to make disclosure of shareholdings. |
Imprisonment for a term which may extend to 2
years, or with fine which may extend to Rs. 50,000 or with both. |
Any person who fails to comply. |
|
69 |
322 |
If any director, manager or proposer makes
default in adding a statement that the liability of the person holding the
office will be unlimited. |
Fine which may extend to Rs. 10,000/- and shall
also be liable for any damage which the person so appointed may sustain from
the default but the liability of the person appointed shall not be affected
by the default. |
Any director, manager or proposer. |
|
70 |
371 |
Contravention to the provisions of sec – 370 or
370A including in particular any person to whom the loan is made, or in
whose interest the guarantee is given or the security is provided. |
Fine which may extend to Rs. 50,000/- or with
simple imprisonment for a term which may extend to 6 months. |
Every person who is a party to any
contravention. |
|
71 |
374 |
Contravention with the provisions of Sec – 372
or 373. |
Fine which may extend to Rs. 50,000/- |
Every officer of the company who is in default. |
|
72 |
383A |
Failure in having a whole time secretary. |
Fine which may extend to Rs. 500/- for every day
during which the default continues. |
The company and every officer of the company who
is in default.
|
|
73 |
404(4) |
Failure in filing copy of every order altering,
or giving leave to alter, a company’s memorandum or articles, within 30
days. |
Fine which may extend to Rs. 50,000/-.
|
The company and every officer of the company who
is in default. |
|
74 |
420 |
Contravention of the provisions of Section –
417, 418 and 419. (Regarding provident fund of employees) |
Imprisonment for a term which may extend to 6
months or with fine which may extend to Rs. 10,000/-. |
Any officer of the company, or any such trustee
of a provident fund |
|
75 |
423 |
Non compliance with sections 421 and 422.
(Regarding filing of accounts of receivers and Invoices, etc. to refer to
receiver where there is one) |
Fine which may extend to Rs. 2000/-
|
The company and every officer of the company who
is in default. |
|
76 |
485 |
Failure in publication of resolution of winding
up in the official gazette and also in newspaper circulating in the
district. |
Fine which may extend to Rs. 500/- for every day
during which the default continues. |
The company and every officer of the company who
is in default. |
|
77 |
493 |
Failure in giving the notice of appointment of
liquidator to the registrar. |
Fine which may extend to Rs. 1000/- for every
day during which the default continues. |
The company and every officer of the company who
is in default. (including every liquidator or continuing liquidator) |
|
78 |
496 |
Duty of liquidator to call general meeting at
end of each year, in the event of the winding up continuing for more than 1
year. |
Fine which may extend to Rs. 1000/-
|
Liquidator |
|
79 |
497 |
Failure in sending a copy of account and return
to the registrar and official liquidator. |
Fine which may extend to Rs. 500- for every day
during which the default continues. |
Liquidator |
|
80 |
501 |
Failure in submitting with the registrar copy of
resolution passed at a creditor’s meeting. |
Fine which may extend to Rs. 500/- for every day
during which the default continues. |
The company and every officer of the company who
is in default. |
|
81 |
508 |
Duty of liquidator to call meetings of company
and of creditors at the end of each year. |
Fine which may extend to Rs. 1000/-
|
Liquidator |
|
82 |
513 |
If a body corporate is appointed as a
liquidator. |
Fine which may extend to Rs. 10,000/-
|
Every director or manager |
|
83 |
514 |
Corrupt inducement affecting appointment as a
liquidator. |
Fine which may extend to Rs. 10,000/-
|
Any person. |
|
84 |
516 |
Failure in giving the notice of appointment of
liquidator by the liquidator. |
Fine which may extend to Rs. 500/- for every day
during which the default continues. |
Liquidator |
|
85 |
539 |
Falsification of books.
|
Imprisonment for a term which may extend to 7
years and shall also be liable to fine. |
Any person, any officer or contributory of a
company. |
|
86 |
541 |
Default in keeping proper accounts. |
Imprisonment for a term which may extend to 1
year. |
Every officer of the company who is in default. |
|
87 |
542 |
Fraudulent conduct of business with intent to
defraud creditors or any person or for any fraudulent purpose. |
Imprisonment for a term which may extend to 2
years or with fine which may extend to Rs. 50,000 or with both. |
Every person who was knowingly a party to the
carrying of the business. |
|
88 |
551 |
Failure in filing of information as to pending
liquidations. |
Imprisonment for a term which may extend to 6
months or with fine which may extend to Rs. 10,000 or with both. |
Liquidator |
|
89 |
598 |
If any foreign company fails to comply with the
provisions of companies act. |
Fine which may extend to Rs. 10,000/- and in
case of continuing offence, with an additional fine which may extend to Rs.
1000/- for every day during which the default continues. |
Any foreign company. |
|
90 |
606 |
Any person who is knowingly responsible for the
issue, circulation or distribution of a prospectus for the issue of a form
of application for shares, debentures or Indian Depository Receipts in
contravention with the provisions of Sec-603, 604, 605 and 605A. |
Imprisonment for a term which may extend to 6
months or with fine which may extend to Rs. 50,000/- or with both. |
Any person. |
|
91 |
615 |
Failure in complying with the order of the
Central Government to furnish information or statistics or knowingly
furnishing any information or statistics which is incorrect or incomplete.
|
Imprisonment which may extend to 3 months or
with fine which may extend to Rs. 10,000/- or with both. |
The company and every officer of the company who
is in default. |
|
92 |
621A (6)
|
Non-compliance with order made by CLB or the RD
to file or register with, or deliver or send to, the Registrar any return,
account or other document. |
Imprisonment for a term which may extend to 6
months or with fine not exceeding Rs. 50,000/- or with both. |
Any officer or other employee of the company. |
|
93 |
628 |
Making a statement which is false in any
material particular or which omits any material fact. |
Imprisonment for a term which may extend to 2
years and shall also be liable to fine. |
Any person |
|
94 |
629 |
Giving false evidence.
|
Imprisonment for a term which may extend to 7
years, and shall also be liable to fine. |
Any person |
|
95 |
629A
|
Penalty where no specific penalty is provided
elsewhere in the Act. |
Fine which may extend to Rs. 5000/- and where
the contravention is a continuing one, further fine which may extend to Rs.
500/- for every day after the first day during which the contravention
continues. |
Every officer of the company who is in default
or such other person. |
|
96 |
630 |
Penalty for wrongful withholding of property.
|
Fine which may extend to Rs. 10,000/-
|
Any officer or employee of the company. |
|
97 |
631 |
Improper use of words “Limited” and “Private
Limited” |
Fine which may extend to Rs. 500/- for every day
upon which that name or title has been used. |
Any person |
