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, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be punishable with fine which may extend to ten thousand rupees, and where the contravention is continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues.
List of compoundable offences punishable under Section 450
There are several offences, for which no specific penalty is provided in the Act, and are, thereby, punishable under section 450. The penalty being by way of fine only, these offences are compoundable under section 441. These provisions are enumerated below:
| Section | Nature of Offence |
| 14(2) | Non-filing with the Registrar altered copy of articles of association which has the effect of converting public company into private company with the approval of the Central Government. |
| 45 | Issue of shares certificate without distinctive numbers in case of a company having a share capital. |
| 49 | Calls on shares of same class not made on uniform basis. |
| 52(1) & (2)
|
Failure to comply with application of securities premium account or utilisation of securities premium account for purposes other than those specified in sub-section (2). |
| 55 | Non-compliance with the provisions of the section relating to issue of redeemable preference shares |
| 62(1) & (2) | Issue of further shares in violation of the provisions of sub-section (1) |
| 70 | Non-compliance with the provisions of buy back of shares or other specified securities. |
| 71(2), (5) | Issue of debentures with voting rights, debenture trustees etc. |
| 101 | Failure to comply with requirements of notice of a general meeting. |
| 105 | Provisions relating to proxies |
| 106 | Restricting a member from exercising voting right on any ground except a ground set out in section 106(1) |
| 109 | Contravention relating to poll. |
| 115 | Failure to give notice of an intention to move a resolution requiring special notice to members of the company. |
| 123 | Payment or declaration of dividend otherwise than out of profits. |
| 179 | Exercise of certain power by the Board of directors, otherwise at a Board meeting. |
| 181 & 182 | Exercise of Board’s power without the consent of the company in general meeting |
| 196 | Appointment of managerial personnel in contravention of the provisions of this section. |
| 224 | Failure to provide assistance to Central Government in connection with the prosecution launched against a person on the basis of inspectors’ report. |
| 277 | Failure to file a copy of winding up order with the Registrar by the petitioner and the company |
Note: The above list does not contain offences relating to winding-up of companies, under Part VII of the Act.
It’s gоing to be end of mine day, but before end I am reading thiѕ
fantastic post to impr᧐ve my know-how.
I loved as much as you will receive carried out right here.
The sketch is attractive, your authored subject matter stylish.
nonetheless, you command get got an nervousness over that you wish be delivering the following.
unwell unquestionably come further formerly again as exactly the
same nearly a lot often inside case you shield this hike.
I have to thank you for the efforts you have put in writing this blog. I am hoping to see the same high-grade blog posts by you in the future as well. In fact, your creative writing abilities has encouraged me to get my own website now ;)
I’m truly enjoying the design and layout of your blog. It’s a very easy on the
eyes which makes it much more enjoyable for me to come here and visit more
often. Did you hire out a designer to create your theme?
Fantastic work!
… [Trackback]
[…] Read More Infos here: corporatelawreporter.com/companies_act/section-450-of-companies-act-2013-punishment-where-no-specific-penalty-or-punishment-is-provided/trackback/ […]
697770 990914Most reliable human being messages, nicely toasts. are already provided gradually during the entire wedding celebration and therefore are anticipated to be extremely laid back, humorous and as nicely as new all at once. greatest man speech 521491
terbisil disponible sans ordonnance en Suisse compra de tebina en Europa
Its like you read my thoughts! You seem to know a lot about this, like
you wrote the e book in it or something. I think that you just could do with a few p.c.
to drive the message home a little bit, however instead of that, that is great
blog. A fantastic read. I will certainly be back.
Currently it sounds like WordPress is the top blogging
platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Fine postings, Thank you.
680651 413033Spot on with this write-up, I must say i believe this excellent internet site needs significantly far more consideration. Ill probably be once again to learn a fantastic deal much more, numerous thanks that details. 109746
646915 448874good day, your web site is genuinely unquie. Anways, i do appreciate your work 560333
846449 53924hey was just seeing in case you minded a comment. i like your site and the theme you picked is super. I is going to be back. 538551
425557 730951I really dont accept this particular post. Nonetheless, I had searched with Google and Ive discovered out that youre appropriate and I had been thinking inside the improper way. Maintain on creating top quality material similar to this. 940098