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Report No. 190 8.8 Penal provisions 8.8.1 Sections 102-105C prescribe penalties for contravention of or default in complying with the provisions of the Act; false statement in document; wrongfully withholding or obtaining any property; offences under the Act committed by companies and failure to comply with the provisions of sections 2B and 32C. 8.8.2 Section 105C prescribes a penalty for failure to comply with section 32C. It has been suggested that this section be amended to indicate a minimum penalty to be imposed so as to make the provisions deterrent in nature. Further these penalties will be determined and levied after adjudication/inquiry by Adjudicating Officers as stated in para 8.7.10.    |
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