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of <h1>Section 172 of Companies Act 2013: Penalties for Non-Compliance in Director Appointments and Qualifications Clarified</h1> Section 172 of the Companies Act, 2013, as amended by the Companies (Amendment) Act, 2020, imposes penalties on companies and their officers for non-compliance with provisions related to the appointment and qualifications of directors. If a company defaults and no specific penalty is outlined, both the company and responsible officers face a penalty of fifty thousand rupees. For ongoing non-compliance, an additional penalty of five hundred rupees per day is imposed, capped at three lakh rupees for companies and one lakh rupees for officers.
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