Section - 5 - Companies Act, 1956

Section - 5 - Meaning of officer who is in default

[Meaning of "officer who is in default".

5. For the purpose of any provision in this Act which enacts that an officer of the company who is in default shall be liable to any punishment or penalty, whether by way of imprisonment, fine or otherwise, the expression "officer who is in default" means all the following officers of the company, namely :—

(a) the managing director or managing directors;

(b) the whole-time director or whole-time directors;

(d) the secretary;

(e) any person in accordance with whose directions or instructions the Bo .... To read the full section download the app from Google Play store