Penalties for cost audit non-compliance may be imposed on auditors and companies, with continuing daily fines for persistent breaches. Rule 8 imposes monetary fines for failure by a Cost Auditor to comply with rules 4 or 5, and makes companies and officers in default liable where rules 6 or 7 are contravened, with an additional daily fine for continuing contraventions; a saving clause preserves rights, liabilities, penalties and proceedings under the superseded Cost Audit (Report) Rules, 1996.
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.
Provisions expressly mentioned in the judgment/order text.
Penalties for cost audit non-compliance may be imposed on auditors and companies, with continuing daily fines for persistent breaches.
Rule 8 imposes monetary fines for failure by a Cost Auditor to comply with rules 4 or 5, and makes companies and officers in default liable where rules 6 or 7 are contravened, with an additional daily fine for continuing contraventions; a saving clause preserves rights, liabilities, penalties and proceedings under the superseded Cost Audit (Report) Rules, 1996.
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