Question
Which section of the Companies Act, 2013 deals with the penalty for violation of any section or rules for which no specific penalty is defined?
Solution
Section 450, As per section 450 of the Companies Act, 2013 - If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder for which no specific penalty is not defined in this Act, other person shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person.
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