Section 479. Adjudication of offences and standard scale of penalty.
(1) There shall be a standard scale of penalty for offences under this Act, which shall be known as “the standard scale”.
(2) The standard scale consists of :
|Level||Limit of Penalty||Per day penalty during which the default continues in addition to the penalty provided in the second column|
||Upto Rs.25,000||Upto Rs. 500
|2||Upto Rs. 500,000||Upto Rs. 1,000|
|3||Upto Rs. 100 million||Upto Rs. 500,000|
(3) Where a penalty is provided for any offence, contravention of, or default in complying with, any of the provisions of this Act or a directive of the Commission or the registrar or other authority empowered to issue a directive under any provisions of this Act, it shall be adjudged and imposed-
(a) where any person shall be liable to a penalty of level 1, by the officer who is incharge of the company registration office in which the company is registered:
Provided that the Commission and the registrar shall have concurrent jurisdiction under this clause;
(b) where any person shall be liable to a penalty of level 2, by the registrar designated for the purpose:
Provided that the Commission shall have concurrent jurisdiction under this clause; and
(c) where any person shall be liable to a penalty of level 3, by the Commission or an officer authorised by it.
(4) Notwithstanding anything contained in sub-section (3), the Commission may, by an order in writing empower any officer to exercise the powers conferred by the said sub-section in respect of any case or class of cases, either to the exclusion of, or concurrently with, any other officer.
(5) The penalty as aforesaid shall be imposed after giving the person concerned an opportunity to show cause why he should not be punished for the alleged offence, contravention, default or non-compliance and, if he so requests, after giving him an opportunity of being heard personally or through such person as may be specified.
(6) The penalty imposed under this section by the Commission, the registrar designated for the purpose or the officer incharge of the company registration office, shall be without prejudice to any other action for the violation or contravention as provided under the relevant provision of this Act.Previous