Penal Provisions for Companies and Cost Auditor:-
Rule 8 of the Cost Audit Report Rules, 2001 provides the following penal provisions –
(i) If the company contravenes the provisions of Rule 6 or Rule 7 (of the Cost Audit Report Rules,
2001) the company and every officer thereof who is in default, including the persons referred
to in sub-rule (6) of Section 209 of the Companies Act, 1956, shall, subject to the provisions of
Section 233B of the Act, be punishable with fine which may extend to five thousand rupees
and where the contravention is a continuing one, with a further fine which may extend to
five hundred rupees for everyday day after the first day during which such contravention
continues; and
(ii) Where default is made by the Cost Auditor in complying with the provisions of Rule 4 or Rule
5 (of the Cost Audit Report Rules, 2001), he shall be punishable with fine, which may extend
to five thousand rupees.
Rule 8 of the Cost Audit Report Rules, 2001 provides the following penal provisions –
(i) If the company contravenes the provisions of Rule 6 or Rule 7 (of the Cost Audit Report Rules,
2001) the company and every officer thereof who is in default, including the persons referred
to in sub-rule (6) of Section 209 of the Companies Act, 1956, shall, subject to the provisions of
Section 233B of the Act, be punishable with fine which may extend to five thousand rupees
and where the contravention is a continuing one, with a further fine which may extend to
five hundred rupees for everyday day after the first day during which such contravention
continues; and
(ii) Where default is made by the Cost Auditor in complying with the provisions of Rule 4 or Rule
5 (of the Cost Audit Report Rules, 2001), he shall be punishable with fine, which may extend
to five thousand rupees.
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