Chapter 29 - Corporate Law Reporter

Section 452 of Companies Act, 2013 – Punishment for wrongful withholding of property

SECTION 452. PUNISHMENT FOR WRONGFUL WITHHOLDING OF PROPERTY [Effective from 12th September, 2013] (1) If any officer or employee of a company— (a) wrongfully obtains possession of any property, including cash of the company; or (b) having any such property including cash in his possession, wrongfully withholds it or knowingly applies it for the purposes… Read More

Section 451 of Companies Act, 2013 – Punishment in case of repeated default

SECTION 451. PUNISHMENT IN CASE OF REPEATED DEFAULT [Effective from 12th September, 2013] If a company or an officer of a company commits an offence punishable either with fine or with imprisonment and where the same offence is committed for the second or subsequent occasions within a period of three years, then, that company and… Read More

Section 450 of Companies Act, 2013 – Punishment where no specific penalty or punishment is provided

SECTION 450. PUNISHMENT WHERE NO SPECIFIC PENALTY OR PUNISHMENT IS PROVIDED [Effective from 12th September, 2013] If a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent,… Read More

Section 449 of Companies Act, 2013 – Punishment for false evidence

SECTION 449. PUNISHMENT FOR FALSE EVIDENCE [Effective from 12th September, 2013] Save as otherwise provided in this Act, if any person intentionally gives false evidence— (a) upon any examination on oath or solemn affirmation, authorised under this Act; or (b) in any affidavit, deposition or solemn affirmation, in or about the winding up of any… Read More

Section 448 of Companies Act, 2013 – Punishment for false statement

SECTION 448. PUNISHMENT FOR FALSE STATEMENT [Effective from 12th September, 2013] Save as otherwise provided in this Act, if in any return, report, certificate, financial statement, prospectus, statement or other document required by, or for, the purposes of any of the provisions of this Act or the rules made thereunder, any person makes a statement,—… Read More

Section 447 of Companies Act, 2013 – Punishment for fraud

SECTION 447. PUNISHMENT FOR FRAUD [Effective from 12th September, 2013] Without prejudice to any liability including repayment of any debt under this Act or any other law for the time being in force, any person who is found to be guilty of fraud [involving an amount of at least ten lakh rupees or one per… Read More

Section 464 of Companies Act, 2013 – Prohibition of Association or Partnership of Persons Exceeding Certain Number

SECTION 464. PROHIBITION OF ASSOCIATION OR PARTNERSHIP OF PERSONS EXCEEDING CERTAIN NUMBER [Effective from 1st April, 2014] (1) No association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by… Read More

Section 465 of Companies Act, 2013 – Repeal of Certain Enactments and Savings

SECTION 465. REPEAL OF CERTAIN ENACTMENTS AND SAVINGS [Effective from 30th January, 2019 except provisions related to the repeal of the Registration of Companies (Sikkim) Act, 1961 (Sikkim Act 8 of 1961)] (1) The Companies Act, 1956 (1 of 1956) and the Registration of Companies (Sikkim)… Read More

Section 466 of Companies Act, 2013 – Dissolution of Company Law Board and Consequential Provisions

SECTION 466. DISSOLUTION OF COMPANY LAW BOARD AND CONSEQUENTIAL PROVISIONS [Effective from 1st June 2016] (1) Notwithstanding anything contained in section 465, the Board of Company Law Administration constituted under the Companies Act, 1956 (1 of 1956) (hereafter in this section referred to as the Company Law Board) shall stand dissolved on the constitution of… Read More

Section 467 of Companies Act, 2013 – Power of Central Government to Amend Schedules

SECTION 467. POWER OF CENTRAL GOVERNMENT TO AMEND SCHEDULES [Effective from 12th September, 2013] (1) Subject to the provisions of this section, the Central Government may, by notification, alter any of the regulations, rules, Tables, forms and other provisions contained in any of the Schedules to this Act. (2) Any alteration notified under sub-section (1)… Read More

Section 468 of Companies Act, 2013 – Powers of Central Government to Make Rules Relating to Winding Up

SECTION 468. POWERS OF CENTRAL GOVERNMENT TO MAKE RULES RELATING TO WINDING UP [Effective from 12th September, 2013] (1) The Central Government shall, make rules consistent with the Code of Civil Procedure, 1908 (5 of 1908) providing for all matters relating to the winding up of companies, which by this Act, are to be prescribed,… Read More

Section 469 of Companies Act, 2013 – Power of Central Government to Make Rules

SECTION 469. POWER OF CENTRAL GOVERNMENT TO MAKE RULES [Effective from 12th September, 2013] (1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) Without prejudice to the generality of the provisions of sub-section (1), the Central Government may make rules for all or any of the… Read More

Section 470 of Companies Act, 2013 – Power to Remove Difficulties

SECTION 470. POWER TO REMOVE DIFFICULTIES [Effective from 12th September, 2013] (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act, as appear to it to be necessary or… Read More