Section 598 - Penalties. - Companies Act, 1956

Penalties. 598. If any foreign company fails to comply with any of the foregoing provisions of this Part, the company, and every officer or agent of the company who is in default, shall be punishable with fine which may extend to [1] [ten thousand rupees], and in the case of a continuing offence, with an additional fine which may extend to [2] [one thousand rupees] for every day during which the default continues. ------------------------------------ Notes:- [1] Substituted for "one thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [2] Substituted for "one hundred rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.