law: Companies Act, 2013 
  147.
  
  Punishment for contravention.
  1.      If any of the
  
  provisions of sections 139 to 146 (both inclusive) is contravened, the company
  
  shall be punishable with fine which shall not be less than twenty-five thousand
  
  rupees but which may extend to five lakh rupees and every officer of the
  
  company who is in default shall be punishable with imprisonment for a term
  
  which may extend to one year or with fine which shall not be less than ten
  
  thousand rupees but which may extend to one lakh rupees, or with both.
  2.      If an auditor of a
  
  company contravenes any of the provisions of section 139, section 143, section
  
  144 or section 145, the auditor shall be punishable with fine which shall not
  
  be less than twenty-five thousand rupees but which may extend to five lakh
  
  rupees:
  Provided
  
  that if an auditor has contravened such provisions knowingly or willfully with
  
  the intention to deceive the company or its shareholders or creditors or tax
  
  authorities, he shall be punishable with imprisonment for a term which may
  
  extend to one year and with fine which shall not be less than one lakh rupees
  
  but which may extend to twenty-five lakh rupees.
  1.     
  2.     
  3.      Where an auditor has
  
  been convicted under sub-section (2 ), he shall be liable to—
               
  
   i.        
  
    refund
  
  the remuneration received by him to the company; and
              
  
   ii.        
  
    pay
  
  for damages to the company, statutory bodies or authorities or to any other
  
  persons for loss arising out of incorrect or misleading statements of
  
  particulars made in his audit report.
  1.     
  2.     
  3.     
  4.      The Central
  
  Government shall, by notification, specify any statutory body or authority or
  
  an officer for ensuring prompt payment of damages to the company or the persons
  
  under clause (ii ) of sub-section (3 ) and such body, authority or
  
  officer shall after payment of damages to such company or persons file a report
  
  with the Central Government in respect of making such damages in such manner as
  
  may be specified in the said notification.
  5.      Where, in case of
  
  audit of a company being conducted by an audit firm, it is proved that the
  
  partner or partners of the audit firm has or have acted in a fraudulent manner
  
  or abetted or colluded in any fraud by, or in relation to or by, the company or
  
  its directors or officers, the liability, whether civil or criminal as provided
  
  in this Act or in any other law for the time being in force, for such act shall
  
  be of the partner or partners concerned of the audit firm and of the firm
  
  jointly and severally.