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Condonation of delay under section 204

This query is : Resolved

Himani Jain (Querist)
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29 November 2021 What is the minimum penalty to be imposed for not conducting secretarial audit in financial year 2016? As the company filed petition for condonation of delay on receipt of show cause notice.Whether RD has a power to impose penalty lower than minimum limit as prescribed under relevant section of the act?
Taking reference of case law- M/s Viavi solutions private limited v/s ROC, NCT delhi and haryana.

B Sathyanarayanan

B Sathyanarayanan (Expert)
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03 December 2021 Yes Penalty will be imposed Rs 1 lacs minimum and Rs 5 lacs maximum and rfd has no power to impose lower penalty .

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