valid as on 13/10/2021

Section 392. Punishment for contravention
Effective from 01-04-2014

Without prejudice to the provisions of section 391, if a foreign company contravenes the provisions of this Chapter, the foreign company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offence, with an additional fine which may extend to fifty thousand rupees for every day after the first during which the contravention continues and every of the  who is in default shall be punishable with fine which shall not be less than twenty five thousand rupees but which may extend to five lakh rupees, or with both.  

Exempted for (a) foreign companies and (b) companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India vide S.O.3156(E) Exemption Notification dated August 5,2021. To view the notification Click Here
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
2(43) Foreign Company means any company or body corporate incorporated outside India which,—

(a) has a place of business in India whether by itself or through an agent, physically or through   electronic mode;

(b) conducts any business activity in India in any other manner.

Omitted vide Companies (Amendment) Act, 2020 dated 28.09.2020 with effect from 21.12.2020. To view the Act, Click Here. To view the commencement notification, Click Here
Substituted vide Companies (Amendment) Act, 2020 dated 28.09.2020 with effect from 21.12.2020. To view the Act, Click Here. To view the commencement notification, Click Here.  

Commencement Notification under Companies (Amendment) Act, 2020 dated 21.12.2020


Companies (Amendment) Act, 2020 dated 28.09.2020


Enforcement Notification S.O. 902(E) dated 26/03/2014


S.O. 3156(E) Exemption Notification dated 05.08.2021


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