Section - 631 - Penalty for improper use of words Limited and Private Limited
Penalty for improper use of words "Limited" and "Private Limited".631. If any person or persons trade or carry on business under any name or title of which the word "Limited" or the words "Private Limited", or any contraction or imitation thereof is or are the last word or words, that person or each of those persons, shall, unless duly incorporated with limited liability, or unless duly incorporated as a private company with limited liability, as the case may be, be punishable with fine which may extend to [five hundred] rupees for every day upon which that name or title has been used.
53a. Substituted for "fifty", by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.
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