|
Section
|
particulars
|
liability
|
Imprisonment
|
fine
|
|
464
|
Illegal
association
|
Every members
|
|
1 lakh
|
|
4(5)
|
Incorrect
information
|
applicant
|
|
1 lakh
|
|
7
|
False
particulars for incorporation
|
Any person
|
Under sec 447
|
|
|
8
|
Non-compliance
under sec 8 (company with charitable objects)
|
Company
Director
or officers
|
Max 3 years
|
10 lakhs to 1
crore
25,000
to 25 lakhs
|
|
8
|
If the above
consequences is done in fraudulent manner
|
Every officer
|
Punishable under sec 447
|
|
|
16
|
Compulsory
name change
|
Company
officer
|
|
1000 every day
5000
to 1 lakh
|
|
16
|
Notice to ROI
for change in capital clause within 30 days
|
|
|
1000 every day
or
5 lakhs w.e.l
|
|
16
|
Copies of MOA,
AOA to members on demand
|
|
|
1000 every day
or
1 lakh w.e.l
|
|
33
|
Default in
abridged prospectus
|
Company
|
|
50,000
|
|
26
|
Non-compliance
with sec 26 (issue of prospectus)
|
Company
officers
|
Max
3 years
|
50,000 to 3
lakhs
50,000
to 3 lakhs
|
|
34
|
Criminal
liability for misstatement in prospectus
under 447
|
Officers
|
6
months to 10 years
3 years to 10
years If it involves public interest
|
Min - amount equal to fraud
Max - 3 times of the amount
|
|
36
|
Punishment for
fraud for inducing the public to invest money
|
|
Under 447
|
|
|
38
|
Punishment on
personation for acquisition of securities
|
|
Under 447
|
|
|
42
|
Private
placement without the issue of prospectus
|
Promotors and
directors
|
|
Amount
involved in offer or invitation or 2
crores w.e.h
refunds all
the monies within 30 days
|
|
64
|
Filing with
ROC for conversion of shares into stock
|
Company and
officer
|
|
1000 every day
or 5 lakhs w.e.l
|
|
40 (5)
|
Default in
underwriting commission
|
Company
officer
|
Max
1 year
|
5 lakhs to 50
lakhs
50,000
to 3 lakhs
|
|
39(2)
|
Collection of
minimum application money
|
|
|
1000 per day
up to 1 lakh
|
|
40(3)
|
Deposit of
application money in separate bank account
|
Company
officer
|
Max
1 year
|
5 lakhs to 50
lakhs
50,000
to 3 lakhs
|
|
40(11)
|
Listing
permission form stock exchange
|
Company
officer
|
Max
1 year
|
5 lakhs to 50
lakhs
50,000
to 3 lakhs
|
|
57
|
Impersonation
as shareholder
|
Person in
default
|
1
year to 3 years
|
1 lakh to 5
lakhs
|
|
46(5)
|
Issue of
duplicate certificate of shares
|
Company
officer
|
Under sec 447
|
Min. 5 times
of face value of shares
Max. 10 times
of face value or 10 crores w.e.h
|
|
66
|
Reduction of
share capital
|
company
|
|
5 lakhs to 25
lakhs
|
|
67
|
Restriction to
buy back or financing purchase of own shares
|
Company
officer
|
Max
3 years
|
1 lakh to 25
lakhs
1
lakh to 25 lakhs
|
|
68
|
Non-compliance
of procedures for buy back
|
Company
officer
|
3
years
|
1 lakh to 3
lakhs
1
lakh to 3 lakhs
|
|
56(1) to 56(5)
|
Transfer or
transmission of shares
|
Company
officer
|
|
25,000 to 5
lakhs
10,000
to 1 lakh
|
|
58(4)
|
Contravening
the order of tribunal for refusal of registration of transfer
|
|
1
year to 3 years
|
1 lakh to 5
lakhs
|
|
59
|
Contravening
the order of tribunal regarding rectification of register on
transfer/transmission of shares
|
Company
officer
|
Max
1 year
|
1 lakh to 5
lakhs
1
lakh to 3 lakhs
|
|
88(5)
|
Non-maintenance
of register of members
|
Company and
officer
|
|
50,000 to 3
lakhs
1000 every day
on continuing default
|
|
91(2)
|
Closure of
register of members without notice
|
Company and
officer
|
|
5000 every day
Max 1 lakh
|
|
92
|
Wrong
certification of annual returns by secretary
|
secretary
|
|
50,000 to 5
lakhs
|
|
92
|
Non filing of
annual return
|
Company
officer
|
Max
6 months
|
50,000 to 5
lakhs
50,000
to 5 lakhs
|
|
118
|
Default in
maintain minutes book
|
Company
officer
|
|
25,000
5,000
|
|
118
|
Penalty for tampering of minutes
|
Person in
default
|
2
years
|
25,000 to 1
lakh
|
|
117
|
Filing of
resolutions and agreements with ROC
|
Company
officer
|
|
5 lakhs to 25
lakhs
1
lakh to 5 lakhs
|
|
74(3)
|
Failure to
repay deposit or interest within time limit
|
Company
officer
|
7
years
|
1 crore to 10 crores
25
lakhs to 2 crores
|
|
86
|
Consequences
for non-registration of charges
|
Company
officer
|
6months
|
1 lakh to 10
lakhs
25,000
to 1 lakh
|
|
60
|
Publication of
authorised or subscribed capital
|
Company
officer
|
|
10,000
5,000
|
|
120
|
Electronic
maintenance inspection or security of documents
|
|
|
5,000 and 500
per day
|
w.e.l
– whichever is less
w.e.h
– whichever is high
note:
any default done in fraudulent manner shall be punishable under sec 447
Company Secretary GAURAV SHARMA+919990694230 Connect on Watts App with Gaurav Email us [email protected] Submit your guest articles for our website click here we will publish it Subscribe our Email updates like other 21,000 Members, Free/Easy/Comfortableway
