Liability where proper accounts not kept.

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..... mmediately preceding the making of the application, or the period between the incorporation of the company and the making of the application, whichever is shorter, every officer of the company who is in default shall, unless he shows that he acted honestly and that in the circumstances in which the business of the company was carried on, the default was excusable, be punishable with imprisonment f .....

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..... s and those buyers and sellers to be identified. ----------------------------------- Notes:- [1] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT .....

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