A Ltd Held shares as a beneficial owner but the shares were in name of the Depository A registe...........

Companies Act-Phase (I & II) Board-powersandMeetings

A Ltd. Held shares as a beneficial owner but the shares were in name of the Depository. A register as required by law u/s 187 of Companies Act 2013 to enumerate details of such holdings was not maintained. What are the penal provisions for the same?

Fine : 25000-25 lakh

Fine: 25000- 5 lakh

Fine: 25000- 1 lakh

Fine: 25000-50000

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Explanation:

According to Sec 187 (4) If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees, or with both