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of <h1>Companies Face Fines for Missing Meetings or Ignoring Orders Under Sections 166 and 167(1); Daily Penalties Apply</h1> If a company fails to hold a meeting as required by section 166 or does not comply with directions from the Tribunal or Central Government under section 167(1), both the company and its responsible officers are subject to a fine up to fifty thousand rupees. For ongoing defaults, an additional fine of two thousand five hundred rupees may be imposed for each day the default continues.
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