valid as on 12/12/2019

Section 99.Punishment for default in complying with provisions of sections 96 to 98.
Notified on 01-06-2016

If any default is made in holding a meeting of the  in accordance with section 96 or section 97 or section 98 or in complying with any directions of the , the company and every  of the company who is in default shall be punishable with fine which may extend to one lakh rupees and in the case of a continuing default, with a further fine which may extend to five thousand rupees for every day during which such default continues.

Company means a company incorporated under this Act or under any previous company law
 “Tribunal” means the National Company Law Tribunal constituted under section 408
2(59) Officer includes any director, manager or key managerial personnel or any person in accordance with whose directions or instructions the Board of Directors or any one or more of the directors is or are accustomed to act

Enforcement Notification S.O. 1934(E) dated 01/06/2016


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