Section 62 in The Companies (Second Amendment) Act, 2002
62. Insertion of new section 446.- After section 446 of the principal Act, the following section shall be inserted, namely:-" 446A. Responsibility of directors and officers to submit to Tribunal audited books of account.- The directors and other officers of every company shall ensure that books of account of the company are completed and audited up to date of winding up order m de by the Tribunal and submitted to it at the cost of the company, failing which such directors and officers shall be liable for punishment for a term not exceeding one year and a fine for an amount not exceeding one lakh rupees.".
