Section 279 - Penalty. - Companies Act, 1956

Penalty. 279. Any person who holds office, or acts, as a director of more than [1] [fifteen companies] in contravention of the foregoing provisions shall be punishable with fine which may extend to [2] [fifty thousand rupees] in respect of each of those companies after the first twenty [3]. -------------------------------------------------------------------------------- [1] Substituted for "twenty companies" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [2] Substituted for "five thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [3] Should also have been amended to read fifteen (sic) authors. [ Substituted for "five thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. ].