Cos 454A — Penalty for repeated default

Companies Act, 2013

Statutory text

[454A.Penalty  for  repeated  default.—Where  a  company  or  an  officer  of  a  company  or  any  other person having already been subjected to penalty for default under any provisions of this Act, again commits such  default  within  a  period  of  three  years  from  the  date  of  order  imposing  such  penalty  passed  by  the adjudicating officer or the Regional Director, as the case may be, it or he shall be liable for the second or subsequent defaults for an amount equal to twice the amount of penalty provided for such default under the relevant provisions of this Act.]

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