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SECTION 229 PENALTY FOR FURNISHING FALSE STATEMENT, MUTILATION, DESTRUCTION OF DOCUMENTS

Updated: Oct 17

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When a person is asked to explain themselves or make a statement as part of an inspection, inquiry, or investigation, or when an officer (including any director, manager, or key managerial staff, as well as any individual who the Board of Directors or one or more of the directors are or are used to acting by when making decisions)[1] or other employees of a company (denotes a business that was founded in accordance with this Act or previous company legislation) or other body corporate (including an organisation formed outside of India, but excludes the following: cooperative societies registered under any law governing cooperative societies, and any other corporate organisation that the Central Government may specify in this regard by notification and that is not a company as specified in this Act)[2] is also being looked into,

  • Destroys, mutilates, or falsifies documents pertaining to the property, assets, or business of the firm or the body corporate, or conceals, tampers, or removes them without authorization, or participates in any of the aforementioned actions;

  • Makes a false entry or participates in the fabrication of one in any document pertaining to the company or body corporate;

  • He offers an explanation that is untrue or that he knows to be false. He will be held accountable for fraud in accordance with section 447[3]

[1] Companies Act 2013 (Section 2 (59))-

https://www.mca.gov.in/content/dam/mca/pdf/CompaniesAct2013.pdf [2] Companies Act 2013 (Section 2 (11))-

https://www.mca.gov.in/content/dam/mca/pdf/CompaniesAct2013.pdf [3] Companies Act 2013 (Section 228)-

https://www.mca.gov.in/content/dam/mca/pdf/CompaniesAct2013.pdf

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