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₹50 Lakh Penalty for Section 188 Violation: A Wake-Up Call for Private Limited Companies in India
In a major compliance action, the Registrar of Companies (ROC) Bangalore has imposed a penalty of ₹50 lakh on the directors of M/s Stanley Lifestyle Limited for violating Section 188 of the Companies Act, 2013, related to non-disclosure of Related Party Transactions. This case reinforces a critical truth Best CA Near Me for all businesses: ❗