Section 374. - Penalty for contravention of section 372 or 373. - Companies Act, 1956

Penalty for contravention of section 372 or 373. 374. If default is made in complying with the provisions of [1] [section 372 [excluding sub-sections (6) and (7)] or section 373], every officer of the company who is in default shall be punishable with fine which may extend to [2] [fifty thousand rupees]. -------------------------------------- Notes:- [1] Substituted for "section 372 or 373". Section 140, by the Companies (Amendment) Act, 1960, Act, 65 of 1960. [2] Substituted for "five thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.