Section 159 of Companies Act, 2013 – Punishment for contravention

SECTION 159. PUNISHMENT FOR CONTRAVENTION

[Effective from 1st April, 2014]

[1] [If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues.]

Applicable Notifications

Notification authorizing officers for filing complaint under section 159 read with section 155 of the Companies Act, 2013

Notification No. S.O. 129(E), dated 9-1-2015

S.O. 129(E). In pursuance of sub-section (2) of section 439 of the Companies Act, 2013, the Central Government hereby authorises the following officers in the office of the Regional Director (Northern Region) at Noida for the purposes of filing the complaints under Section 159 of the said Act in respect of the offences under Section 155 of the Act, namely:

S. No.	Name of Officers
1	Dr. Raj Singh, Joint Director
2	Shri A.M. Singh, Joint Director
3	Ms. P. Sheela, Joint Director
4	Shri R. K. Tiwari, Joint Director
5	Shri Ch. Jaganadh Reddy, Assistant Director

 

 

[1] Substituted by The Companies (Amendment) Ordinance, 2019 dated 12th January, 2019 effective from 2nd November, 2018. Prior to substitution it read as under:-

“If any individual or director of a company, contravenes any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be punishable with imprisonment for a term which may extend to six months or with fine which may extend to fifty thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first during which the contravention continues.”