Limit on directorships: exceeding the statutory cap triggers per-company monetary penalties to enforce compliance. Section 279 creates a statutory penalty for any person who holds or acts as a director of more than fifteen companies, imposing a monetary fine applicable in respect of each company in excess of the permitted directorship limit; the provision, as amended, adjusts the numeric thresholds and increases the prescribed fine, functioning as a per-company sanction to enforce compliance with the statutory cap on concurrent directorships.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Limit on directorships: exceeding the statutory cap triggers per-company monetary penalties to enforce compliance.
Section 279 creates a statutory penalty for any person who holds or acts as a director of more than fifteen companies, imposing a monetary fine applicable in respect of each company in excess of the permitted directorship limit; the provision, as amended, adjusts the numeric thresholds and increases the prescribed fine, functioning as a per-company sanction to enforce compliance with the statutory cap on concurrent directorships.
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