Section 281 of the Companies Act, 2013
Section 281 of the Companies Act, 2013 – Recovery of Penalty or Fine as Arrears of Land Revenue
Overview:
Section 281 empowers the Central Government or any authorized officer to recover any penalty, fine, or other sums payable under the Companies Act, 2013 as if they were arrears of land revenue.
Key Provisions:
Recovery as Arrears of Land Revenue:
Any penalty, fine, or other amount imposed under the Companies Act that remains unpaid may be recovered by the government in the same manner as arrears of land revenue.
Authority for Recovery:
The Central Government or officers authorized by it can take steps to recover these dues.
Purpose:
This provision facilitates efficient and effective recovery of penalties or fines.
It gives the government strong enforcement powers to ensure compliance with the law.
Practical Effect:
If a company or its officers fail to pay fines or penalties under the Act, the government can recover these amounts through mechanisms similar to collecting land revenue, which is a powerful and swift recovery process under Indian law.
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