Substitution of New Section for Section 43
36[For section 43 of the principal Act, the following section shall be substituted, namely:--
"43. Penalty for failure to comply with directions of Commission and Director General-If any person fails to comply, without reasonable cause, with a direction given by --
(a) the Commission under sub-sections (2) and (4) of section 36; or
(b) the Director General while exercising powers referred to in sub-section (2) of section 41,
such person shall be punishable with fine which may extend to rupees one lakh for each day during which such failure continues subject to a maximum of rupees one crore, as may be determined by the Commission.".]
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1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated 15.05.2009.