Unlock Advanced Research with PRISMAI Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions - Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ... Upgrade to Premium Document Options Get in PDF Print it! [Cites 0, Cited by 1] [Section 308] [Entire Act] Union of India - Subsection Section 308(3) in The Companies Act, 1956 (3)Any person who fails to comply with sub-section (1) or (2) shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to [fifty thousand rupees], or with both.Remuneration of Directors