Punishment for Contravention Notified Date of Section: 01/04/2014
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[Omitted] with fine which shall not be less than twentyfive thousand rupees but which may extend to 2[five lakh rupees].

 

Amendments

1. Omitted by The Companies Amendment Act 2020   Amendment Effective from 21st December 2020

Original Omitted Content

“with imprisonment for a term which may extend to six months or”

2.Substituted by The Companies Amendment Act 2020   Amendment Effective from 21st December 2020

in section 392

for the words five lakh rupees,or with both

the following words shall be substituted, namely :-

“five lakh rupees”

 

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