Section 479 — Adjudication of offences and standard scale of penalty

(1)

There shall be a standard scale of penalty for offences under this Act, which shall
be known as “the standard scale”.

(2) The standard scale consists of—

Level Limit of penalty

Per day penalty
during which the
default continues
1 Upto Rs.25,000

Upto Rs.500

2 Upto Rs.500,000

Upto Rs.1,000
3 Upto Rs.100 million Upto Rs.500,000

(3) Where a penalty is provided for any offence, contravention of, or
default in complying with, any of the provisions of this Act or a directive of the
Commission or the registrar or other authority empowered to issue a directive under
any provisions of this Act, it shall be adjudged and imposed—

(a) where any person shall be liable to a penalty of level 1, by the officer
who is incharge of the company registration office in w hich the
company is registered:

Provided that the Commission and the registrar shall have
concurrent jurisdiction under this clause;

(b) where any person shall be liable to a penalty of level 2, by the
registrar designated for the purpose:

Provided that the Commission shall have concurrent
jurisdiction under this clause; and

(c) where any person shall be liable to a penalty of level 3, by the
Commission or an officer authorised by it.

(4) Notwithstanding anything contained in sub -section ( 2), the
Commission may, by an order in writing empower any officer to exercise the
powers conferred by the said sub -section in respect of any case or class of cases,
either to the exclusion of, or concurrently with, any other officer.

(5) The penalty as aforesaid shall be imposed after giving the person
concerned an opportunity to show cause why he should not be punished for the
alleged offence, contravention, default or non -compliance and, if he so requests,
after giving him an opportunity of being heard persona lly or through such person
as may be specified.

(6) The penalty imposed under this section by the Commission, the
registrar designated for the purpose or the officer incharge of the company
registration office, shall be without prejudice to any other act ion for the violation
or contravention as provided under the relevant provision of this Act.