Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Companies Act Section 197(15) Amendment Replacing Fine with Penalty Cannot Apply to Pre-2019 Corporate Offenses

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....HC determined that amendment to Section 197(15) of Companies Act 2013, replacing "punishable with fine" with "penalty" through Companies (Amendment) Act 2019, does not apply retrospectively to offenses committed in 2016. The substitution provision in absence of contrary indication relates back to original 2013 Act. Consequently, proceedings against petitioner under amended Section 197(15) were deemed non-maintainable. Court quashed complaint and cognizance order filed with Special Court for Economic Offences regarding alleged violations of Section 197(3), 197(9) and Rule 7(2) of Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014.....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Companies Act Section 197(15) Amendment Replacing Fine with Penalty Cannot Apply to Pre-2019 Corporate Offenses