Companies Act, 1956
Section - 108-I - Penalty for acquisition or transfer of share in contravention of sections 108A to 108D
Penalty for acquisition or transfer of share in contravention of sections to .108-I. (1) Any person who acquires any share in contravention of the provisions of shall be punishable with imprisonment for a term which may extend to three years, or with fine which may extend to [fifty] thousand rupees, or with both.(2)(a) Every body corporate which makes any transfer of shares without giving any intimation as required by , shall be punishable with fine which may extend to [fifty] thousand rupees.(b) Where any contravention of the provisions of has been made by a company, every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years, or with fine which may extend to [fifty] thousand rupees, or with both..... To read the full section download the app from Google Play store
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