Penalty for default in compliance: liability now the higher of a fixed sanction or a multiple of the benefit accrued. Amendment makes every promoter, director, manager or other key managerial personnel who is in default liable to a penalty that is the higher of a fixed monetary sanction or a multiple of the benefit accruing to the defaulting promoter, director, manager or other key managerial personnel or any of their relatives, without prejudice to other sub-section provisions.
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 default in compliance: liability now the higher of a fixed sanction or a multiple of the benefit accrued.
Amendment makes every promoter, director, manager or other key managerial personnel who is in default liable to a penalty that is the higher of a fixed monetary sanction or a multiple of the benefit accruing to the defaulting promoter, director, manager or other key managerial personnel or any of their relatives, without prejudice to other sub-section provisions.
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