Rule 4 - Penalty. - Companies (Transfer of Profits to Reserves) Rules, 1975

Penalty. [1] [04. If a company fails to comply with any of the provisions contained in these Rules, the company and every officer of the company in default shall be punishable with fine which may extend to five hundred rupees, and, where the contravention is a continuing one, with a further fine which may extend to fifty rupees for every day, after the first, during which such contravention continues. --------------------------------- Notes:- [1] Substituted by GSR 472(E), dated 23-7-1976.