Penalty for non-compliance imposes distinct personal and corporate fines for defaults under the amended provision. Amendment to section 197 omits sub-section (7) and substitutes sub-section (15), providing that a person who defaults in complying with the section is ... Summary
Penalty for non-compliance imposes distinct personal and corporate fines for defaults under the amended provision.
Amendment to section 197 omits sub-section (7) and substitutes sub-section (15), providing that a person who defaults in complying with the section is liable to a penalty of one lakh rupees and a company which defaults is liable to a penalty of five lakh rupees.
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