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What are consequences and penalties of failure to appoint cs

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(Querist)
18 July 2012 Dear Friends,
What are consequences and penalties of failure to appoint CS.
Paip up capital is 5 Crore or above.
Company is Private Limited.
Please reply asap.
Thanks & Regards
Lokesh Gandhi
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CA. Sunil Kumar

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CA. Sunil Kumar (Expert)
18 July 2012 If a company fail to comply with the provisions of section 383A, the company and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.
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lokesh

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lokesh (Querist)
19 July 2012 Thanks for reply..But their are some more penalties too..
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