https://www.taxtmi.com/caselaws?id=101979 A penalty clause that adds a further fine for each day of default does not by itself make the offence continuing; a default is complete when the prescribed time expires unless the statute clearly says otherwise. For offences punishable with fine only, the six-month limitation under the Code of Criminal Procedure applies, and cognizance cannot be validly taken after expiry of that period without condonation under section 473. Liability under section 58A also depends on proof that the person was an officer in default, including control over the company's affairs or participation in the relevant resolution; absent such material, liability is not established. en-us Tue, 11 Sep 1990 00:00:00 +0530 Mon, 13 Feb 2012 13:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101979 A penalty clause that adds a further fine for each day of default does not by itself make the offence continuing; a default is complete when the prescribed time expires unless the statute clearly says otherwise. For offences punishable with fine only, the six-month limitation under the Code of Criminal Procedure applies, and cognizance cannot be validly taken after expiry of that period without condonation under section 473. Liability under section 58A also depends on proof that the person was an officer in default, including control over the company's affairs or participation in the relevant resolution; absent such material, liability is not established. Case-Laws Companies Law Tue, 11 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101979