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Companies Act, 1956


Sec 272 - Penalty.

If, after the expiry of the said period of two months, any person acts as a director of the company when he does not hold the qualification shares referred to in section 270, he shall be punishable with fine which may extend to five hundred rupees for every day between such expiry and the last day on which he acted as a director.



Companies Act, 1956 Back




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