Punishment where no specific penalty or punishment is provided (Section 450 of the Companies Act, 2013) :

(i) Applicability of section 450: The penalty under this section applies only in those cases where penalty or punishment is not provided elsewhere in this Act.

(ii) Penalty under this section: The company and every officer of the company who is in default or such other person:

(a) shall be punishable with fine which may extend to 10,000 rupees, and

(b) Where the contravention is continuing one, with a further fine which may extend to 1,000 rupees for every day after the first during which the contravention continues.

(iii) List of contraventions: If a company or any officer of a company or any other person contravenes:

(a) any of the provisions of this Act; or

(b) the rules made thereunder; or

(c) any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted.