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section 99

Rakesh Saini (14 Points)

21 September 2017

Is it amendment for fine limits under section 99 ? earlier these limits are 50000 or 2500 per day .

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CS Smreti (cs) (641 Points)
Replied 21 September 2017

Section 99 prescribes a higher fine. It says the company who is in default shall be punishable with fine which may extend to one lakh rupees and in the case of a continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues.

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Rakesh Saini (14 Points)
Replied 23 September 2017

Its okay. But my question is that these limits are 50000 and 2500 per day under section 168 of co. Act 1956. i.e before the notification of section 99 under co . Act 2013. IS amendment or not?