Section 392 of the Companies Act, 2013: Punishment for contravention

The Companies Act, 2013

Chapter– XXII Companies Incorporated Outside India

Section 392: Punishment for contravention.

*392. Without prejudice to the provisions of section 391, if a foreign company contravenes the provisions of this Chapter, the foreign company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offence, with an additional fine which may extend to fifty thousand  rupees for every day after the first during which the contravention continues and every officer of the foreign company who is in default shall be punishable 1[**] with fine which shall not be less than twenty five thousand rupees but which may extend to 2[five lakh rupees].


Reference

*Effective from 01.04.2014

1. Omitted by the Companies (Amendment) Act, 2020, w.e.f. 21.12.2020[S.O. 4646(E) dated 21.12.2020], the words “with imprisonment for a term which may extend to six months or“.

2. Substituted by the Companies (Amendment) Act, 2020, w.e.f. 21.12.2020[S.O. 4646(E) dated 21.12.2020], for the words “five lakh rupees, or with both”.

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