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[Cites 0, Cited by 0] [Section 70] [Entire Act]

Union of India - Subsection

Section 70(3) in Indian Companies Act, 1913

(3)if any director or proposer makes default in adding such a statement, or if any promoter or officer Of the company makes default in giving such a notice, be shall be liable to a fine not Exceeding one thousand rupees and shall also be liable for any damage which the person so elected or appointed may sustain from the default, but the liability of the person elected or appointed shall not be affected by the default.