kindly mention if there is any penalty for not giving advertisement as per rule 20 of companies ( managament and administration) rules 2014 (in connection to section 108 of companies act 2013 ).
1 Replies
Avneesh Mishra
(CS Trainee)
(502 Points)
Replied 11 August 2014
Dear Ashish,
Please read rule number 30 of Chapter 7 (Management & Admn. Rules), it clearly says:
30. Penalty
If any default is made in compliance with any of the provisions of this rule, the company and every officers or such other person who is in default shall be punishable with fine which may extend to fivethousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which such contravention continues.
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