Penalties for non compliance with fertilizer cost accounting rules impose fines and company/officer liability under Companies Act. Penalties for breach of the Cost Accounting Records (Fertilizer Industry) Rules, 2011: a Cost Accountant who defaults is punishable with a fine; the company is punishable under sub section (2) of section 642 of the Companies Act; and every officer in default, including persons referred to in sub section (6) of section 209, is punishable under sub sections (5) and (7) of section 209 of the Companies Act, 1956.
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Provisions expressly mentioned in the judgment/order text.
Penalties for non compliance with fertilizer cost accounting rules impose fines and company/officer liability under Companies Act.
Penalties for breach of the Cost Accounting Records (Fertilizer Industry) Rules, 2011: a Cost Accountant who defaults is punishable with a fine; the company is punishable under sub section (2) of section 642 of the Companies Act; and every officer in default, including persons referred to in sub section (6) of section 209, is punishable under sub sections (5) and (7) of section 209 of the Companies Act, 1956.
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