Dear Experts,
To the best of my knowledge, there are no specific penalty for defaulting the obligation to appoint a resident director in a private limited company under s. 149(3) of the Companies Act, 2013.
My view on this is therefore that s. 172, which provides for a fine between 50,000 and 5 lakhs rupees to the company and every officer in default.
Would you agree with this?
Thank you very much in advance
You can have a look at Section 450 which talks about that if any section does not describe any penality then section 450 need to be followed
In this case penalty u/s 172 will be applicable.
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