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        Companies Law

        Section 423 - Penalty for non-compliance with sections 421 and 422.

        Companies Act, 1956
        Chapter VI
        MANAGEMENT AND ADMINISTRATION

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        Penalty for non-compliance with statutory filing duties: company and defaulting officers face fines; receiver treated as officer. Failure to comply with sections 421 or 422 renders the company and every officer in default punishable with a fine which may extend to two thousand rupees; for this purpose a receiver is deemed to be an officer of the company.
                          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.

                              Penalty for non-compliance with statutory filing duties: company and defaulting officers face fines; receiver treated as officer.

                              Failure to comply with sections 421 or 422 renders the company and every officer in default punishable with a fine which may extend to two thousand rupees; for this purpose a receiver is deemed to be an officer of the company.


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