Producer Company penalties include name-misuse fines, director imprisonment for non-disclosure, and continuing daily fines. Use of the words 'Producer Company Limited' by anyone other than a registered Producer Company is punishable by a daily fine up to ten thousand rupees. A director or officer who willfully fails to furnish information to a member or authorised person faces imprisonment up to six months and a fine equal to five per cent of the company's preceding financial year turnover. Failure to hand over custody of books or property, or to convene annual or other general meetings, attracts a fine up to one lakh rupees and an additional continuing default fine up to ten thousand rupees per day.
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.
Producer Company penalties include name-misuse fines, director imprisonment for non-disclosure, and continuing daily fines.
Use of the words "Producer Company Limited" by anyone other than a registered Producer Company is punishable by a daily fine up to ten thousand rupees. A director or officer who willfully fails to furnish information to a member or authorised person faces imprisonment up to six months and a fine equal to five per cent of the company's preceding financial year turnover. Failure to hand over custody of books or property, or to convene annual or other general meetings, attracts a fine up to one lakh rupees and an additional continuing default fine up to ten thousand rupees per day.
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