OBL-48: Statutory Penalty Exposure & Liability Controls (Section 33)
Governs financial penalty exposure up to ₹250 Crore per significant statutory non-compliance.
Statutory scope: Section 33(1) to (2) · Assigned to Legal / board secretariat · Systems: Governance register; no live Board system asserted
Recommended interface: Substitute recruitment for appointment or mix actor/commencement dates; expected outcome is rejected institutional assertion and a source-review action.
Substitute recruitment for appointment or mix actor/commencement dates; expected outcome is rejected institutional assertion and a source-review action.
Governance & Architecture
Verification Specification & Workpaper
proposed per-row review/acceptance specification; not a claim of executed statutory coverage
populated hypothetical decision/specimen; not actual enterprise execution
Canonical Statutory Grounding
Source references verified against the official Gazette of India publication baseline.
Board; person found in significant breach
Conclusion of inquiry, significant breach and hearing
May impose scheduled penalty; seven statutory factors.
Discretionary maximum, no fixed multiplier from mitigation.