Section 159 Punishment for contravention
- Amendments
- 1
- Last changed
- 2 November 2018
Substituted by Companies (Amendment) Act, 2019, s. 25, with effect from 2 November 2018. Earlier read: "section 159"159. Penalty for default of certain provisions.—
Substituted by Companies (Amendment) Act, 2019, s. 25, with effect from 2 November 2018. Earlier read: "section 159"If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues.