Clause 17 - Amendment of section 76A. - Companies (Amendment) Bill, 2017

Amendment of section 76A. 17. In section 76A of the principal Act,- ( a ) in clause ( a ), for the words, one crore rupees , the words one crore rupees or twice the amount of deposit accepted by the company, whichever is lower shall be substituted; ( b ) in clause (b),- ( i ) for the words seven years of with fine , the words seven years and with fine shall be substituted; ( ii ) the words or with both shall be omitted.