Repeated default penalty doubles liability for subsequent breaches within a defined period under company law framework. Section 454A provides that if a company, an officer of a company or any other person who has previously been subjected to a penalty under the Act again commits the same default within a specified recurrence period counted from the date of the earlier adjudicating order, the second or subsequent default shall attract a penalty equal to twice the amount of the penalty prescribed for that default under the Act.
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.
Repeated default penalty doubles liability for subsequent breaches within a defined period under company law framework.
Section 454A provides that if a company, an officer of a company or any other person who has previously been subjected to a penalty under the Act again commits the same default within a specified recurrence period counted from the date of the earlier adjudicating order, the second or subsequent default shall attract a penalty equal to twice the amount of the penalty prescribed for that default under the Act.
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