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        Companies Law

        Rule 24 - Penalty for non-compliance.

        Nidhi Rules, 2014
        Chapter 01

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        Penalty for non-compliance: companies and defaulting officers face fines, with additional daily fines for continuing contraventions. Rule 24 prescribes that a company falling under rule 2 and every officer of the company who is in default shall be punishable with a fine which may extend to five thousand rupees, and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Penalty for non-compliance: companies and defaulting officers face fines, with additional daily fines for continuing contraventions.

                              Rule 24 prescribes that a company falling under rule 2 and every officer of the company who is in default shall be punishable with a fine which may extend to five thousand rupees, and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues.


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