{"id":81773,"date":"2023-11-29T12:38:13","date_gmt":"2023-11-29T07:08:13","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?post_type=act&#038;p=81773"},"modified":"2023-11-29T12:38:13","modified_gmt":"2023-11-29T07:08:13","slug":"section-378zm","status":"publish","type":"act","link":"https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-378zm\/","title":{"rendered":"Section 378ZM. Penalty For Contravention"},"content":{"rendered":"\n<p><strong><span id='easy-footnote-1-81773' class='easy-footnote-margin-adjust'><\/span><span class='easy-footnote'><a href='https:\/\/enterslice.com\/learning\/act\/companies-act-2013\/section-378zm\/#easy-footnote-bottom-1-81773' title='Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).'><sup>1<\/sup><\/a><\/span>[378ZM. Penalty for contravention.&#8211;<\/strong>(1) If any person, other than a Producer Company registered under this Chapter, carries on business under any name which contains the words &#8220;Producer Company Limited&#8221;, he shall be punishable with fine which may extend to ten thousand rupees for every day during which such name has been used by him.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(2) If a director or an officer of a Producer Company, who wilfully fails to furnish any information relating to the affairs of the Producer Company required by a Member or a person duly authorised in this behalf, he shall be liable to imprisonment for a term which may extend to six months and with fine equivalent to five per cent. of the turnover of that Company during the preceding financial year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(3) If a director or officer of a Producer Company&#8211;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(a) fails to hand over the custody of books of account and other documents or property in his custody to the Producer Company of which he is a director or officer; or<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>(b) fails to convene annual general meeting or other general meetings,<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>he shall be punishable with fine which may extend to one lakh rupees, and in the case of a continuing default or failure, with an additional fine which may extend to ten thousand rupees for every day during which such default or failure continues.]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[378ZM. Penalty for contravention.&#8211;(1) If any person, other than a Producer Company registered under this Chapter, carries on business under any name which contains the words &#8220;Producer Company Limited&#8221;, he shall be punishable with fine which may extend to ten thousand rupees for every day during which such name has been used by him. (2) [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":79763,"parent":79755,"menu_order":0,"template":"","format":"standard","meta":[],"categories":[11445],"tags":[1007],"acf":{"service_id":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Section 378ZM. 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Penalty for contravention.&#8211;(1) If any person, other than a Producer Company registered under this Chapter, carries on business under any name which contains the words &#8220;Producer Company Limited&#8221;, he shall be punishable with fine which may extend to ten thousand rupees for every day during which such name has been used by him. 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