¹[13. Punishment in case of non-compliance:-

Whoever contravenes any of the provisions of these rules, shall be punishable with fine not exceeding five thousand rupees, and where the contravention is a continuing one, with a further fine not exceeding five hundred rupees for every day after the first during which the contravention continues.]

Amendment

1. Substituted by the National Financial Reporting Authority Amendment Rules, 2022. Dated 17.06.2022

for rule 13,

13. Punishment in case of non-compliance

If a company or any officer of a company or an auditor or any other person contravenes any of the provisions of these rules, the company and every officer of the company who is in default or the auditor or such other person shall be punishable as per the provisions of section 450 of the Act.

the following rule shall be substituted, namely:-

13. Punishment in case of non-compliance:-

Whoever contravenes any of the provisions of these rules, shall be punishable with fine not exceeding five thousand rupees, and where the contravention is a continuing one, with a further fine not exceeding five hundred rupees for every day after the first during which the contravention continues.