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of <h1>Residuary penalty for violating Companies Act provisions or approval conditions without specific punishment: ?10,000 plus daily fine caps</h1> Prescribes a residuary penalty where any provision of the Companies Act, 2013 or rules, or any condition, limitation or restriction attached to an approval, sanction, consent, confirmation, recognition, direction or exemption is contravened and no specific penalty or punishment is provided elsewhere in the Act. The company, every officer in default, and any other person responsible are liable to a fixed penalty of ten thousand rupees, plus a continuing default penalty of one thousand rupees per day after the first day of contravention, capped at two lakh rupees for a company and fifty thousand rupees for an officer in default or any other person.
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