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of <h1>Foreign Companies Face Fines for Violating Companies Act 2013, Section 392; Officers Also Liable to Penalties</h1> Section 392 of the Companies Act, 2013, addresses the penalties for foreign companies that violate the provisions of the relevant chapter. A foreign company found in contravention is subject to a fine ranging from one lakh to three lakh rupees. In the case of a continuing offence, an additional fine of up to fifty thousand rupees per day is imposed. Officers of the defaulting foreign company face fines between twenty-five thousand and five lakh rupees. Amendments in 2020 removed the possibility of imprisonment and adjusted the fines applicable to officers.
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