Rule 8 - Penalties, - Cost Accounting Records (Sugar Industry) Rules, 2011

1 [8. Penalties, (1) If default is made by the Cost Accountant in complying with the provisions of these rules, he shall be punishable with fine, which may extend to five thousand rupees. (2) For contravention of these rules, ‐ (a) the company shall be punishable as provided under sub‐section (2) of section 642 of the Act; and (b) every officer thereof who is in default, including the persons referred to in sub‐section (6) of section 209 of the Act, shall be punishable as provided under sub‐sections (5) and (7) of section 209 of Companies Act, 1956 (1 of 1956). ] ------------------- Notes:- 1. Inserted vide Notification No. G.S.R. 872 (E)., dated 07/12/2011