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The Companies Act, 2013

Chapter VII - Management And Administration (88-122)

Section 99- Punishment for default in complying with provisions of sections 96 to 98.

[Section 99- notified  w.e.f. 01.06.2016  vide Notification No. S. O. 1934 (E) dated 01.06.2016]

Section 99- Punishment for default in complying with provisions of sections 96 to 98. [Corresponds to Section 168 of the Companies Act, 1956]

If any default is made in holding a meeting of the company in accordance with section 96 or section 97 or section 98 or in complying with any directions of the  Tribunal,  the company and every officer of the company who is in default shall be punishable with fine which may extend to one lakh rupees and in the case of a continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues.