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331 views • Question added Oct 19, 2013 • Corporate Law • By Harshit Bansal , CA , Faridabad


Whether there is a penalty if a pvt. ltd. co.is not maintaining Fixed Assets Register as per Sec 209(1)(c) of Comapnies Act,1956 and if so, then how much is the amount of penalty?

2 Answers

answered Oct 21, 2013 by shankygarg , Karnal

The Managing Director, Manager or other Officers and employees who have violated sec 209 of the Companies Act, 1956 shall be liable to imprisonment for a term which may extend to 6 months or a fine of Rs. 10000 or with both.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.


answered Oct 21, 2013 by shankygarg , Karnal

The Managing Director, Manager or other Officers and employees who have violated sec 209 of the Companies Act, 1956 shall be liable to imprisonment for a term which may extend to 6 months or a fine of Rs. 10000 or with both.
If the accused person can prove that it was not committed willfully,imprisonment is unlikely.


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