Company compliance penalty under section 189 strengthened with a specific monetary sanction for non-compliance with statutory rules. Section 189 of the Companies Act, 2013 is amended to insert a new sub-section prescribing a penalty of two lakh rupees for any company failing to comply ... Summary
Company compliance penalty under section 189 strengthened with a specific monetary sanction for non-compliance with statutory rules.
Section 189 of the Companies Act, 2013 is amended to insert a new sub-section prescribing a penalty of two lakh rupees for any company failing to comply with the section and the rules made thereunder. The amendment operates as an enforcement measure for the statutory obligations and accompanying rules under section 189.
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