Penalty for non compliance with section 203: company and officers face prescribed penalties and daily continuing default charges. Amendment of section 203 imposes a revised penalty regime: companies that default incur a prescribed monetary penalty; every director and key managerial personnel in default is separately liable to a specified penalty; and where the default continues, an additional daily penalty accrues for each day after the first, subject to an overall cap.
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 with section 203: company and officers face prescribed penalties and daily continuing default charges.
Amendment of section 203 imposes a revised penalty regime: companies that default incur a prescribed monetary penalty; every director and key managerial personnel in default is separately liable to a specified penalty; and where the default continues, an additional daily penalty accrues for each day after the first, subject to an overall cap.
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