Section 159 of the Companies Act, 2013

Section 159 of the Companies Act, 2013 deals with the punishment for failure to furnish Director Identification Number (DIN)-related information as required under Section 152, Section 155, and Section 156.

๐Ÿ“˜ Section 159 โ€“ Punishment for Contravention

If any individual or director of a company:

Fails to furnish their Director Identification Number (DIN), or

Furnishes false information or

Fails to inform changes in their particulars (as required under Section 156),

๐Ÿ‘‰ Then, the person is liable to:

Penalty of โ‚น50,000; and

In case of a continuing default, a further penalty of โ‚น500 per day,

Subject to a maximum of โ‚น5,00,000.

๐Ÿงพ Related Sections:

Section 152 โ€“ Appointment of directors;

Section 155 โ€“ Prohibition to obtain more than one DIN;

Section 156 โ€“ Director to intimate DIN and changes to the company.

โœ… Summary Table:

DefaultPenalty
Failure to furnish or update DINโ‚น50,000
Continuing defaultโ‚น500/day, up to a maximum of โ‚น5,00,000

 

LEAVE A COMMENT

0 comments