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of <h1>Section 172 penalty for director appointment compliance failures: daily fines and caps for companies and defaulting officers</h1> Section 172 of the Companies Act, 2013 provides that where a company defaults in complying with any provision of the Chapter on appointment and qualifications of directors, and no specific penalty or punishment is otherwise prescribed, both the company and every defaulting officer are liable to a monetary penalty. The base penalty is fifty thousand rupees, with an additional five hundred rupees for each day the failure continues. The total penalty is capped at three lakh rupees for the company and one lakh rupees for each officer in default.
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