Contravention of records preservation and disposal rules leads to a penal fine under the Companies rules. Rule 5 of the Companies (Preservation and Disposal of Records) Rules, 1966 provides that any contravention of these Rules shall be punishable with fine ... Summary
Contravention of records preservation and disposal rules leads to a penal fine under the Companies rules.
Rule 5 of the Companies (Preservation and Disposal of Records) Rules, 1966 provides that any contravention of these Rules shall be punishable with fine which may extend to five hundred rupees, establishing a monetary penalty as the statutory sanction for non-compliance with record preservation and disposal obligations under Companies law.
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