Demand for recovery of penalty requires deposit within specified period via prescribed challan; interest and recovery measures follow. The Form I demand notice requires the addressee to deposit the penalty within thirty days of receipt by payment through Challan in favour of the Pay and Accounts Officer-Ministry of Corporate Affairs to the specified account head. If the penalty is not deposited within that period, interest at 1.5% per month or part of a month shall run from the day after expiry until payment, and the Commission may take steps to recover the sum and initiate actions for non compliance of its orders.
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.
Demand for recovery of penalty requires deposit within specified period via prescribed challan; interest and recovery measures follow.
The Form I demand notice requires the addressee to deposit the penalty within thirty days of receipt by payment through Challan in favour of the Pay and Accounts Officer-Ministry of Corporate Affairs to the specified account head. If the penalty is not deposited within that period, interest at 1.5% per month or part of a month shall run from the day after expiry until payment, and the Commission may take steps to recover the sum and initiate actions for non compliance of its orders.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.