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 company under this Act, or
otherwise in or about any matter arising under this Act, he
shall be punishable with imprisonment for a term which shall
not be less than three years but which may extend to seven
years and with fine which may extend to ten lakh rupees.
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 1
[liable to a penalty of ten thousand rupees, and in case of
continuing contravention, with a further penalty of on
thousand rupees for each day after the first during which
the contravention continue, subject to a maximum of two lakh
rupees in case of a company and fifty thousand rupees in
case of an officer who is in default or any other person].
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1. Subs. by Act 29 of 2020, s. 63, for certain words (w.e.f. 21-12-2020).
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 every officer thereof who is in default shall be punishable with twice the amount of fine for such offence in addition to any imprisonment provided for that offence.