Penalty 58 B - for contravention by any person

Question 1

wilfully makes a statement which is false in any material particular knowing it to be false or wilfully omits to make a material statement

Answer 1

3 years jail and fine

Question 2

fails to produce any book, account or other document or to furnish any statement, information or particulars which, under this Act or any order, regulation or direction made or given thereunder, it is his duty to produce

Answer 2

upto 1 lakh fine for every offense and if continues then upto 5000 every day

Question 3

Contravention of sec 31 regarding bill of exchange, hundi, promissory note

Answer 3

Amount upto and equal to bill of exchange, hundi, promissory note

Question 4

Contravention of 45E disclosure information

Answer 4

Upto 6 months jail or upto 1000 fine or both

Question 5

contravenes the provisions of sub-section (1) of section 45-IA,

Answer 5

1 to 5 years jail, and 1 to 25 lakhs fine

Question 6

auditor fails to comply with any direction

Answer 6

fine up to 10 lakhs

Question 7

fails to comply with any order made by the Company Law Board under sub-section (2) of section 45QA

Answer 7

jail upto 3 years and fine upto 5000 everyday

Question 8

receives deposit or fail to comply directions of chapter III B or issue prospectus in contravention to 45J

Answer 8

twice the amount of deposit received or deposit called for by advertisement

Question 9

contravenes any provision of section 45S,

Answer 9

Jail upto two years or fine of twice the amount or ₹2000 whichever is more or both

further, in the absence of special and adequate reasons to the contrary to be mentioned in the judgement of the court, the imprisonment shall not be less than one year and the fine shall not be less than one thousand rupees.

Question 10

any other provision of this Act is contravened

Answer 10

upto 1 lakh fine and if continuing ₹10000 every day