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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 581ZM: Penalties for Misuse of 'Producer Company Limited' and Non-Compliance in Company Operations.</h1> Section 581ZM of the Companies Act, 1956, outlines penalties for contraventions related to Producer Companies. Non-registered entities using 'Producer Company Limited' in their name face fines up to ten thousand rupees daily. Directors or officers failing to provide required company information may face up to six months imprisonment and fines of five percent of the company's turnover. Additionally, directors or officers defaulting on handing over company documents or failing to convene meetings may incur fines up to one lakh rupees, with continuing offenses attracting additional daily fines of ten thousand rupees.
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