Section - 159 - Penalty for default of certain provisions
[Penalty for default of certain provisions.159. If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues.]
51. Substituted by the Companies (Amendment) Act, 2019, w.r.e.f. 2-11-2018. Prior to its substitution, section 159, was earlier enforced with effect from 1-4-2014, read as under :"159. Punishment for contravention.-If any individual or director of a company, contravenes any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be punishable with imprisonment for a term which may extend to six months or with fine which may extend to fifty thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues."
52. Corresponds to section 266G of the 1956 Act.
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