If any
person or group of persons, who trade or carry on business in any manner under
any title or description or name as a foreign company registered under the Act
or the rules made there under, that person or each of those group of persons
shall, shall be liable for investigation under section 210 of the Act and
action consequent upon that investigation shall be taken against that person.
- The punishment has been increased, wherein a foreign company fails to comply with the provision of section 387, Section 388, Section 389 and Section 390 of the new Act. Under the old Act, such companies were punishable with imprisonment for a term up to 6 months or with fine up to fifty thousand rupees or with both. Also, punishment for default in case a foreign company fails to comply with any other provisions applicable on foreign companies in respect of document to be delivered to Registrar after commencement of business in India, return to be delivered to the Registrar where documents are altered, accounts of foreign company and every officer of the company in default was punishable with fine which may extend to ten thousand and in case of a continuing offense, with an additional fine of one thousand rupees for every day during which the default continues.
However
under the New Act, a general penalty is prescribed for default of any of the
provision of this chapter. Now, the company in default shall be punishable with
fine which shall not be less than one lakh rupees but which may extend to three
lakh rupees and in the case of a continuing offense, with an additional fine
which may extend to fifty thousand rupees for every day during which the
default continues and every officer who is in default shall be punishable with
imprisonment for a term which may extend to six months or with fine that shall
not be less than 25000 rupees but which may extend to extend to 1 lakh rupees,
or with both.
Due
Diligence Financial Services provides services to bank in the field of Due
Diligence Report for their customer before sanctioning loan about their
physical existence, goodwill and market coverage. And services includes Company registration in Delhi Gurgaon Noida which includes Section 8 company
registration or OPC Registration or LLP formation or annual filing of private
limited company or annual filing of public limited company as well as LLP in
Delhi Noida Gurgaon.