Section - 374 - Penalty for contravention of section 372 or 373
Penalty for contravention of section or .374. If default is made in complying with the provisions of [ [excluding sub-sections (6) and (7)] or ], every officer of the company who is in default shall be punishable with fine which may extend to [fifty] thousand rupees.
[Purchase by company of shares, etc., of other companies.372. [(1) A company, whether by itself or together with its subsidiaries (hereafter in this section and referred to as the investing company), shall not be entitled to acquire, by way of subscription, purchase or otherwise (whether by itself, or by any individual or association of individuals in trust for it or for its benefit or on its account) the shares of any other body corporate except to the extent, and except in accordance with the restrictions and conditions, specified in this section.]Google Play store
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