SOS the Company Secretary of Stup Ltd., was providing orientation to directors who were appoined recently. In one such sessions, where SOS was explaining the overview of penal provisions under the Companies Act, 2013 one

Section 450 of the Companies Act, 2013 ("the Act") provides the provisions for the punishment where no specific penalty or punishment is provided for non-compliance of any specific provision of the Act. According to section 450 of the Act, if a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, or 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, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person. Therefore, it can be said that if a company or any officer of a company or any other person contravenes any of the provisions of the Companies Act, 2013 or the Rules made thereunder, they cannot escape from liability even no specific penalty or punishment is provided for such contravention.