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of <h1>Rule 59: No Penalty Without Show Cause Notice and Opportunity to Respond; 15 Days for Written Explanation Required.</h1> Rule 59 of the National Company Law Tribunal Rules, 2016, outlines the procedure for imposing penalties under the Act. It mandates that no penalty order can be issued without first providing the concerned party, whether an individual or company, with a show cause notice and a reasonable opportunity to present their case. If a show cause notice is issued, the Registrar must allow at least fifteen days for a written explanation. The Bench will then consider the explanation, and possibly conduct an oral hearing, before deciding on the penalty based on the case's facts and circumstances.
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