TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 267 penalties for sick company revival scrapped after Insolvency and Bankruptcy Code, decriminalising related offences</h1> Section 267 of the Companies Act, 2013, formerly provided criminal penalties for violations related to the revival and rehabilitation of sick companies, including breach of any provision of the Chapter, any scheme, or any order of the Tribunal or Appellate Tribunal, as well as making false statements, giving false evidence, or tampering with records in related proceedings. The punishment could extend to seven years' imprisonment and a fine up to ten lakh rupees. This provision has been omitted with effect from 15 November 2016 by Section 255 read with the Eleventh Schedule of the Insolvency and Bankruptcy Code, 2016, thereby removing this specific offence and its penalties from the Companies Act framework.
TaxTMI 
TaxTMI 
