default under section 78
This query is : Resolved
18 June 2009
Sir i want to know what is a penalty, if a comapny has made default in useing securties premium for other then the specified use
18 June 2009
Hi,
No penalty has been specifically provided in the section for the violation. hence, the company and every officer, who is in default, shall be punishable under section 629A.
Go through the language of Section 629A.
The offence, however, is compoundable under section 621A.
Regards
No penalty has been specifically provided in the section for the violation. hence, the company and every officer, who is in default, shall be punishable under section 629A.
Go through the language of Section 629A.
The offence, however, is compoundable under section 621A.
Regards
18 June 2009
Agree with the expert
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