Please Help: Corporate Laws
Posted Date : 19-Oct-2013 , 01:19:39 pm | Posted By Harshit Bansal
Whether there is a penalty if a pvt. ltd. co.is not maintaining Fixed Assets Register as per Sec 209(1)(c) of Comapnies Act,1956 and if so, then how much is the amount of penalty?
Category : Corporate Law | Answers : 2 | Comments : 0 | Hits : 250
Answers
Answer By: shankygarg
The Managing Director, Manager or other Officers and employees who have violated sec 209 of the Companies Act, 1956 shall be liable to imprisonment for a term which may extend to 6 months or a fine of Rs. 10000 or with both.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.
Answer By: shankygarg
The Managing Director, Manager or other Officers and employees who have violated sec 209 of the Companies Act, 1956 shall be liable to imprisonment for a term which may extend to 6 months or a fine of Rs. 10000 or with both.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.
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