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of <h1>Companies Bill, 2011: Penalties for Violating Sections 139-146 Include Fines, Imprisonment, and Auditor Liabilities Under Section 447.</h1> Clause 147 of the Companies Bill, 2011, outlines penalties for contraventions of sections 139 to 146. Companies violating these provisions face fines from twenty-five thousand to five lakh rupees. Responsible officers may face up to one year of imprisonment, fines ranging from ten thousand to one lakh rupees, or both. Auditors contravening sections 143, 144, or 145 face fines from twenty-five thousand to five lakh rupees. If done with intent to deceive, penalties increase to one year of imprisonment and fines from one lakh to twenty-five lakh rupees. Convicted auditors must refund remuneration and compensate for damages. Audit firm partners involved in fraud face joint and several liabilities and penalties under section 447.
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