Companies Act, 2013

Section 124

Power of Central Government to issue directions to a company to which this Chapter applies

⚡ Quick Answer Reference: Section 124 Companies Act

Provision: Section 124 of Companies Act
Act: Companies Act, 2013
Classification: corporate
Jurisdiction: India
Liability / Punishment: Fine up to one lakh rupees and further fine up to one lakh rupees for every day of non-compliance

Statutory Content

What does Section 124 of Companies Act say?

The Central Government may, if it considers necessary or expedient so to do for the better discharge of its functions under this Act, issue directions to a company to which this Chapter applies or its officers or employees and if any company to which this Chapter applies or its officers or employees fails to comply with or contravenes any direction issued under this section, the company to which this Chapter applies or its officers or employees shall be punishable with fine which may extend to one lakh rupees and where the failure or contravention continues, with a further fine which may extend to one lakh rupees for every day after the first during which the failure or contravention continues.

Indian StandardSection 124, Companies Act, 2013

Bluebook (21st ed.)Companies Act, 2013, § 124 (India)

Court Pleading StandardSection 124 of the Companies Act, 2013

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

Criminal Liability

Punishment under Section 124 Companies Act

Fine up to one lakh rupees and further fine up to one lakh rupees for every day of non-compliance

Common Questions about Section 124 Companies Act

What is Section 124 of Companies Act?

Section 124 of the Companies Act, 2013 (Companies Act) defines and regulates "Power of Central Government to issue directions to a company to which this Chapter applies". The section states: The Central Government may, if it considers necessary or expedient so to do for the better discharge of its functions under this Act, issue directions to a company to which this Ch...

What is the punishment under Section 124 of Companies Act?

Under Section 124 of Companies Act, the prescribed liability/punishment is: Fine up to one lakh rupees and further fine up to one lakh rupees for every day of non-compliance

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