Penalties for noncompliance with cost accounting rules: company and responsible officers face statutory punishment while cost accountants face fines. Rule 8 provides that a cost accountant defaulting in compliance with the Cost Accounting Records (Pharmaceutical Industry) Rules, 2011 is liable to a monetary penalty that may extend to five thousand rupees; the company is subject to statutory punishment under the Companies legislation for contravention; and every officer in default, including persons specified under company law, is separately punishable under the statutory officer liability provisions.