Respected Experts,
My query to you is that why company is being penalised for contravention of provisions of Act?
As company is artificial person and run by agents(Directors) of shareholders,in my opinion,company should not be penalised and only officers in default should be penalised.
company can not do any act on it's own,it is officers who run the company.
Why company is being penalised for the acts of officers which ultimately causes losses to shareholders?
Dear Ismail refer the full defination of the company.
Company is considered seperate legal entity having common seal. Then how it is possile ??? moreover I thing u should also know about corporate viel.....
CAclubindia
