LawgistThe Companies Act
159Penalty for default of certain provision
1[159. Penalty for default of certain provisions.-- If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues.]
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1. Subs. by s. 25, ibid., for section 159 (w.e.f. 2-11-2018).
APPOINTMENT AND QUALIFICATIONS OF DIRECTORS
- 149 Company to have Board of Director
- 150 Manner of selection of independent directors and maintenance of data bank of independent directors
- 151 Appointment of director elected by small shareholders
- 152 Appointment of director
- 153 Application for allotment of Director Identification Number
- 154 Allotment of Director Identification Number
- 155 Prohibition to obtain more than one Director Identification Number
- 156 Director to intimate Director Identification Numbe
- 157 Company to inform Director Identification Number to Registrar
- 158 Obligation to indicate Director Identification Number
- 159 Penalty for default of certain provision
- 160 Right of persons other than retiring directors to stand for directorship
- 161 Appointment of additional director, alternate director and nominee director
- 162 Appointment of directors to be voted individually
- 163 Option to adopt principle of proportional representation for appointment of directors
- 164 Disqualifications for appointment of director
- 165 Number of directorships
- 166 Duties of directors
- 167 Vacation of office of director
- 168 Resignation of director
- 169 Removal of director
- 170 Register of directors and key managerial personnel and their shareholding
- 171 Members‘ right to inspect
- 172 Punishment
