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Penalty for not appointing CS

This query is : Resolved 
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(Querist)
30 May 2011 A Company with paid up capital of 6.5 crore not appointed full time company secretary. Now on the basis of filed Balance Sheet MCA issue a notice for this.

Pls advice on this matter.

What is the penalty for not appointing CS in Companies Act ?

Is there any Compounding Provision ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 May 2011 5,000/- per day during which the default continues. Ref:- section 383A(1A).
Offence is compoundable u/s 621A of the Companies Act,1956.
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