Adjudication Officer under the Companies Act, 2013 has sent notice to the Alaya Ltd alleging that the Company had committed certain offences under the Companies Act. The provisions referring the offences as alleged by Ad

According to section 450 of the Companies Act, 2013, provides for the punishment for non-compliances of those provisions of the Act where no specific Penalty or Punishment is provided. According to said section, 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, 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 the Companies Act, 2013, 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. Hence, the contention of the company is not valid.