Section 392 Punishment for contravention
- Amendments
- 2
- Last changed
- 21 December 2020
392. Punishment for contravention.—
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 Text omitted by amendmentThe words “with imprisonment for a term which may extend to six months or” omitted by Companies (Amendment) Act, 2020, s. 54. Earlier read: "a term which may extend to six months or” omitted by Act 29 of 2020, s. 54" with fine which shall not be less than twenty-five thousand rupees but which may extend to Substituted by Companies (Amendment) Act, 2020, s. 54, with effect from 21 December 2020. Earlier read: "fifty thousand rupees, or with both"five lakh rupees.