Amended and updated notes on section 446 of Companies Act 2013. Detail discussion on provisions and rules related to application of fines.
Chapter XXVIII (Sections 435–446B) of the Companies Act, 2013 (CA 2013) deals with the provisions related to Special Courts. Section 446 of CA 2013 provides for application of fines.
Recently, we have discussed in detail section 445 (Compensation for accusation without reasonable cause) of CA 2013. Today, we learn the provisions of section 446 of the Companies Act 2013.
The provisions of section 446 are effective from 12th September, 2013. You may refer Notification No. S.O. 902(E) dated 12-09-2013. In this article, you will learn detail of the provisions of section 446 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXVIII |
| Chapter Name | Special Courts |
| Section No. | 446 |
| Section Name | Application of fines |
| Monthly Updated Edition | Company Law PDF |
Section 446 of Companies Act 2013: Application of fines
Section 446 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
The court imposing any fine under this Act may direct that the whole or any part thereof shall be applied in or towards payment of the costs of the proceedings, or in or towards the payment of a reward to the person on whose information the proceedings were instituted.