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Punishment for contravention of section 73 or section 76

Section 76A - Acts - ACCEPTANCE OF DEPOSITS BY COMPANIES - Companies Law - Section 76A - 1[76A. .-Where a company accepts or invites or allows or causes any other person to accept or invite on its behalf any deposit in contravention of the manner or .....

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or such further time as may be allowed by the Tribunal under section 73,- (a) the company shall, in addition to the payment of the amount of deposit or part thereof and the interest due, be punishable with fine which shall not be less than 2[one cro .....

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ears and with fine] which shall not be less than twenty-five lakh rupees but which may extend to two crore rupees, 4[***]: Provided that if it is proved that the officer of the company who is in default, has contravened such provisions knowingly or w .....

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