Section 441F(2) in The Companies (Second Amendment) Act, 2002
(2)The Tribunal may, after such inquiry as it deems fit, impose on the company, which is in arrears under sub- section (1), a penalty not exceeding ten times the amount in arrears: Provided that before imposing such penalty, such company shall be given a reasonable opportunity of being heard, and if, after such hearing, the Tribunal is satisfied that the default was for any good and sufficient reason, no penalty shall be imposed un er this sub- section.
