Company Law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 October 2010 Is any one tell me the difference in penalty of Sec. 283(2A) & Sec. 272
i m not able to get clear cut about the person who is been charged for penalty
Sec. 272 is understoodable but Sec. 283(2A) is talking about the same person..
me confuse.
plz held me..

Ajay Mishra

Ajay Mishra (Expert)
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06 October 2010 Dear Friend
Section 272 of the Companies Act, 1956 deal with penalty, if the director failed to take qualification shares within a period of two month from the date of appoint. It is a condition for appointment of director and if he will not take such shares he will punishable with fine only.
In case of section 283(2A) deal with vacation of office of the post of director in addition to pay fine if director fall under sub section (1) and (2) of section 283(2A). It means
1. Vacation of office, and
2. Pay fine
Regards
CS Ajay Mishra

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