Corporate law penalty framework updated for contravention of section 128, with higher liability for listed companies. Amendment of section 128 revises the enforcement consequence under sub-section (6) by substituting the existing fine-based wording with a penalty framework. The provision now differentiates liability between listed companies and other companies, and inserts a proviso creating enhanced penalty exposure where the contravention relates to sub-section (1) or sub-section (5).
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.
Corporate law penalty framework updated for contravention of section 128, with higher liability for listed companies.
Amendment of section 128 revises the enforcement consequence under sub-section (6) by substituting the existing fine-based wording with a penalty framework. The provision now differentiates liability between listed companies and other companies, and inserts a proviso creating enhanced penalty exposure where the contravention relates to sub-section (1) or sub-section (5).
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