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[Cites 0, Cited by 0] [Section 42D] [Entire Act]

Union of India - Subsection

Section 42D(9) in The Insurance Act, 1938

(9)Where the person contravening sub-section (8) is a company or a firm, then, without prejudice to any other proceedings which may be taken against the company or firm, every director, manager, secretary or other officer of the company, and every partner of the firm who is knowingly a party to such contravention shall be liable to a penalty which may extend to ten lakh rupees.