What are the penalties for the unjustified failure or refusal to allow the inspection or reproduction of corporate records?
The unjustified failure or refusal by the corporation, or those responsible for maintaining corporate records, to comply with the rules on inspection and reproduction shall be punished with a fine ranging from Ten thousand pesos (P10,000.00) to Two hundred thousand pesos (P200,000.00) at the court’s discretion (SEC. 161, Revised Corporation Code of the Philippines). If the violation is found to be injurious or detrimental to the public, the fine is increased, ranging from Twenty thousand pesos (P20,000.00) to Four hundred thousand pesos (P400,000.00). Any officer or agent responsible for the refusal is also liable for damages to the director, trustee, stockholder, or member affected. These penalties are without prejudice to the SEC’s exercise of its contempt powers.
30 October 2025
About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
