Costing Standards Accounting Standards E-Forms

The Companies Act, 1956

Managing Agents (Section 324 to 377)

Section 374 Penalty for contravention of section 372 or 373.

Section 374 Penalty for contravention of section 372 or 373.

If default is made in complying with the provisions of section 372 excluding sub-sections (6) and (7) or section 373, every officer of the company who is in default shall be punishable with fine which may extend to fifty thousand rupees.