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Union of India - Section

Section 28 in The Companies (Amendment) Act, 2020

28. Amendment of section 137.

In section 137 of the principal Act, in sub-section (3),—
(a)for the words "one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees", the words "ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of two lakh rupees," shall be substituted;
(b)for the words "one lakh rupees", the words "ten thousand rupees" shall be substituted;
(c)for the words "five lakh rupees", the words "fifty thousand rupees" shall be substituted.