Company meeting defaults carry fines for the company and defaulting officers, escalating daily for continuing breaches. Failure to hold meetings as required by sections 96-98 or to comply with Tribunal directions renders the company and every officer in default liable to a ... Summary
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Company meeting defaults carry fines for the company and defaulting officers, escalating daily for continuing breaches.
Failure to hold meetings as required by sections 96-98 or to comply with Tribunal directions renders the company and every officer in default liable to a fine up to one lakh rupees and, for continuing defaults, a further fine up to five thousand rupees for each day the default continues.
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