25 November 2008
383 (1A) gives the answer, means co and every officer in default shall be punishable with fine which may extend to Rs 5000/- per day during which the default continues.
02 December 2008
As per Section 383A(1A) Penalty is Rs. 500 per day and not Rs. 5000/- :-
If a company fails to comply with the provisions of sub-section (1), the company and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.
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