Penalties for non-compliance with cost accounting rules: fines for cost accountants and liability for companies and officers under Companies Act. A cost accountant who fails to comply with the Companies (Cost Accounting Records) Rules, 2011 is liable to a fine up to five thousand rupees. A company that contravenes these rules, and every officer in default including specified persons under the Act, are punishable as provided under the Companies Act and its referenced subsections.
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 non-compliance with cost accounting rules: fines for cost accountants and liability for companies and officers under Companies Act.
A cost accountant who fails to comply with the Companies (Cost Accounting Records) Rules, 2011 is liable to a fine up to five thousand rupees. A company that contravenes these rules, and every officer in default including specified persons under the Act, are punishable as provided under the Companies Act and its referenced subsections.
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