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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Non-compliance with Companies Act sections 421 or 422 results in fines up to 2,000; includes company officers and receivers.</h1> If a company fails to comply with the requirements of sections 421 or 422 of the Companies Act, 1956, the company and any responsible officers will face a fine up to two thousand rupees. The receiver is also considered an officer of the company for the purpose of this penalty. The fine amount was increased from two hundred rupees to two thousand rupees by the Companies (Amendment) Act, 2000, effective from December 13, 2000.
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