Implications on private company

Sec 453. Punishment for Improper Use of â??Limitedâ?? or â??Private Limitedâ??. If any person or persons trade or carry on business under any name or title, of which the word â??Limitedâ?? or the words â??Private Limitedâ?? or any contraction or imitation thereof is or are the last word or words, that person or each of those persons shall, unless duly incorporated with limited liability, or unless duly incorporated as a private company with limited liability, as the case may be, punishable with fine which shall not be less than five hundred rupees but may extend to two thousand rupees for every day for which that name or title has been used.

Sudha Reddy

CA Final

★ 20K+

19-Apr-22 15:11

Auditor needs to check extent and intent behind the non-compliance.

Sudha Reddy

CA Final

★ 20K+

19-Apr-22 15:16

Thank you

Thread Starter

Sanat Harwadekar

CA Inter

★ 3K+

19-Apr-22 22:47