Section 169 — Penalties
Statute text
Whoever contravenes or fails to comply with any of the
provisions of sections 154 to 168 or is a party to the contravention of the said
provisions shall be liable to a penalty of level 2 on the standard scale and may also
be debarred by the authority which imposes the penalty from becoming or
continuing a director of the company for a period not exceeding three years.