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of <h1>Penalties for Companies and Auditors Under Section 147 of the Companies Act, 2013: Fines, Imprisonment, and Liabilities Explained.</h1> Section 147 of the Companies Act, 2013 prescribes penalties for contraventions of sections 139 to 146. A company violating these provisions faces fines between twenty-five thousand and five lakh rupees, while responsible officers face fines between ten thousand and one lakh rupees. Auditors violating sections 139, 144, or 145 face fines between twenty-five thousand and five lakh rupees or four times their remuneration. Knowingly deceptive auditors may face up to one year of imprisonment and higher fines. Convicted auditors must refund remuneration and pay damages. Audit firms involved in fraud face joint liability, with specific partners bearing criminal responsibility. The Central Government ensures prompt damage payments.
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