Home Acts & Rules Companies Law Old_Provisions Companies Act, 1956 Chapters List Chapter VI MANAGEMENT AND ADMINISTRATION This
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Section 272 - Penalty. - Companies Act, 1956Extract Penalty. 272. If, after the expiry of the said period of two months, any person acts as a director of the company when he does not hold the qualification shares referred to in section 270, he shall be punishable with fine which may extend to [1] [five hundred rupees] for every day between such expiry and the last day on which he acted as a director. ------------------------------------ Notes:- [1] Substituted for "fifty rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.
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