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If a company fails to provide the requested information or explanation under Section 206, what penalty can be imposed on the company and its officers?
  • a)
    A warning letter will be issued to the company.
  • b)
    A fine of up to 1 lakh rupees may be imposed on the company and its officers.
  • c)
    The company will be suspended from trading on stock exchanges.
  • d)
    The company's registration will be automatically cancelled.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
If a company fails to provide the requested information or explanation...
As per Section 206(7) of the Companies Act, 2013, if a company fails to provide the requested information or explanation, both the company and its officers in default can be subjected to a fine of up to 1 lakh rupees. Additionally, if the failure continues, an additional fine of up to 500 rupees for each day after the first may be levied.
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If a company fails to provide the requested information or explanation under Section 206, what penalty can be imposed on the company and its officers?a)A warning letter will be issued to the company.b)A fine of up to 1 lakh rupees may be imposed on the company and its officers.c)The company will be suspended from trading on stock exchanges.d)The company's registration will be automatically cancelled.Correct answer is option 'B'. Can you explain this answer?
Question Description
If a company fails to provide the requested information or explanation under Section 206, what penalty can be imposed on the company and its officers?a)A warning letter will be issued to the company.b)A fine of up to 1 lakh rupees may be imposed on the company and its officers.c)The company will be suspended from trading on stock exchanges.d)The company's registration will be automatically cancelled.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about If a company fails to provide the requested information or explanation under Section 206, what penalty can be imposed on the company and its officers?a)A warning letter will be issued to the company.b)A fine of up to 1 lakh rupees may be imposed on the company and its officers.c)The company will be suspended from trading on stock exchanges.d)The company's registration will be automatically cancelled.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a company fails to provide the requested information or explanation under Section 206, what penalty can be imposed on the company and its officers?a)A warning letter will be issued to the company.b)A fine of up to 1 lakh rupees may be imposed on the company and its officers.c)The company will be suspended from trading on stock exchanges.d)The company's registration will be automatically cancelled.Correct answer is option 'B'. Can you explain this answer?.
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