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of <h1>Penalties Under Companies Act 1956: Fines for Breaches Without Specific Penalties, Including Daily Fines for Continued Violations.</h1> Section 629A of the Companies Act, 1956, stipulates penalties for contraventions of the Act where no specific penalty is otherwise provided. If a company or individual breaches any provision, condition, or restriction under the Act without a specified penalty, they are subject to a fine up to five thousand rupees. If the violation continues, an additional fine of up to five hundred rupees per day is imposed for each day the contravention persists. This provision applies to the company, its officers in default, or any other person responsible for the breach.
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