AUBSP»Corporate Law»Companies Act 2013»Section 99 – Punishment for default in complying with provisions of sections 96 to 98

Section 99 – Punishment for default in complying with provisions of sections 96 to 98

Section 99 shall come into force on 1st June, 2016 vide Notification No. S.O. 1934(E) issued dated 01.06.2016.

If any default is made in holding a meeting of the company in accordance with section 96 or section 97 or section 98 or in complying with any directions of the Tribunal, the company and every officer of the company who is in default shall be punishable with fine which may extend to one lakh rupees and in the case of a continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues.

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