If any director contravenes the provision of this section 197 (i.e. Recovery of Remuneration received by director in contravention of section 197 of the Companies Act, 2013), shall be punishable with:

CS Executive · Corporate and Management Accounting · PYQS · December 2021
If any director contravenes the provision of this section 197 (i.e. Recovery of Remuneration received by director in contravention of section 197 of the Companies Act, 2013), shall be punishable with:
(A) fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees.
(B) fine which shall not be less than ten thousand rupees but which may extend to two lakh rupees.
(C) fine which shall not be less than one lakh rupees but which may extend to two lakh rupees.
(D) fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Companies Act, 2013

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