Companies not to engage in accountancy

1 [ Explanation .--For the removal of doubts, it is hereby declared that the company shall include any limited liability partnership which has company as its partner for the purposes of this section.]

proceedings which may be taken against the company, every director, manager, secretary and any other

officer thereof who is knowingly a party to such contravention shall be punishable with fine

2 [which shall

not be less than two lakh rupees but] which may extend on first conviction to 3 [ten lakh rupees], and on

any subsequent conviction 4 [with fine which shall not be less than four lakh rupees but which may extend

to twenty lakh rupees].

1. Ins. by Act 3 of 2012, s. 3 (w.e.f. 1-2-2012).

2. Ins. by Act 12 of 2022, s. 30 (w.e.f. 10-5-2022).

3. Subs. by s. 30, ibid ., for "one thousand rupees" (w.e.f. 10-5-2022).

4. Subs. by s. 30, ibid ., for "to five thousand rupees" (w.e.f. 10-5-2022).