276A. If a person â
(i) fails to give the notice in accordance with sub-section (1) of section 178; or
(ii) fails to set aside the amount as required by sub-section (3) of that section; or
(iii) parts with any of the assets of the company or the properties in his hands in contravention of the provisions of the aforesaid sub-section,
he shall be punishable with rigorous imprisonment for a term which may extend to two years :
Provided that in the absence of special and adequate reasons to the contrary to be recorded in the judgment of the court, such imprisonment shall not be for less than six months.
[Updated up to Finance Act 2017]
I know this web site offers quality dependent posts and extra stuff,
is there any other website which gives these information in quality?
I’ve been exploring for a little bit for any high-quality articles or
weblog posts in this kind of house . Exploring in Yahoo I ultimately stumbled upon this site.
Studying this info So i am happy to exhibit that I’ve a very just right uncanny feeling I found out just what I
needed. I so much definitely will make certain to do not disregard this website and provides it a glance regularly.
Hi everyone, it’s my first pay a visit at this web site, and post is truly fruitful for me, keepup posting these articles.