Unqualified persons not to sign documents

Institute shall sign any document on behalf of cost accountant in practice or a firm of such cost

accountants in his or its professional capacity.

1 [(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any

other proceedings which may be taken against him, be punishable on first conviction with a fine not less

than 2 [one lakh rupees] but which may extend to 3 [five lakh rupees], and in the event of a second or

subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less

than 4 [two lakh rupees] but which may extend to 5 [ten lakh rupees[ or with both.]

1. Subs. by Act 7 of 2006, s. 24, for sub-section (2) (w.e.f. 17-11-2006)

2. Subs. by Act 12 of 2022, s. 66, for “five thousand rupees” (w.e.f. 10-5-2022).

3. Subs. by s. 66, ibid ., for “ one lakh rupees” (w.e.f. 10-5-2022).

4. Subs. by s. 66, ibid ., for “ten thousand rupees” (w.e.f. 10-5-2022).

5. Subs. by s. 66, ibid ., for “ two lakh rupees” (w.e.f. 10-5-2022).