Application of fines (Section 446 of the Companies Act, 2013) :

Section 446 of the Companies Act, 2013 came into force on 12th September, 2013 which provides for Application of fines. According to this section:

The court imposing any fine under this Act may direct that the whole or any part thereof shall be applied in or towards payment of the costs of the proceedings, or in or towards the payment of a reward to the person on whose information the proceedings were instituted.