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        Companies Law

        Section 581ZM - Penalty for contravention.

        Companies Act, 1956
        Chapter IXA
        CHAPTER I PRODUCER COMPANIES

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        Misuse of producer company name attracts daily penalties; directors face imprisonment and fines for disclosure and governance failures. Unauthorised use of the designation Producer Company Limited is a penal offence subject to daily fines. Directors and officers face criminal liability for wilful refusal to supply information to members or authorised persons, including imprisonment and a turnover linked fine. Failure to hand over custody of books or property, or to convene annual or other general meetings, attracts prescribed fines and additional daily fines for continuing default.
                          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.
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                                Misuse of producer company name attracts daily penalties; directors face imprisonment and fines for disclosure and governance failures.

                                Unauthorised use of the designation Producer Company Limited is a penal offence subject to daily fines. Directors and officers face criminal liability for wilful refusal to supply information to members or authorised persons, including imprisonment and a turnover linked fine. Failure to hand over custody of books or property, or to convene annual or other general meetings, attracts prescribed fines and additional daily fines for continuing default.


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