Companies Act, 2017

PART-XIII

LEGAL PROCEEDINGS, OFFENCES

From: 2023-11-01 - To: 0000-00-00 479. Adjudication of offences and standard scale of penalty.- (1) There shall be a standard scale of penalty for offences under this Act, which shall be known as “the standard scale”. (2) The standard scale consists of- Level Limit of penalty Per day penalty during which the default continues 1[***] 1 Upto Rs.25,000 Upto Rs.500 2 Upto Rs.500,000 Upto Rs. 1,000 3 Upto Rs. 100 million Upto Rs.500,000 (3) Where a penalty is provided for any offence, contravention of, or default in complying with, any of the provisions of this Act or a directive of the Commission or the registrar or other authority empowered to issue a directive under any provisions of this Act, it shall be adjudged and imposed- (a) where any person shall be liable to a penalty of level 1, by the officer who is incharge of the company registration office in which the company is registered: Provided that the Commission and the registrar shall have concurrent jurisdiction under this clause; (b) where any person shall be liable to a penalty of level 2, by the registrar designated for the purpose: Provided that the Commission shall have concurrent jurisdiction under this clause; and (c) where any person shall be liable to a penalty of level 3, by the Commission or an officer authorised by it. (4) Notwithstanding anything contained in sub-section 2[(2)], the Commission may, by an order in writing empower any…