Clause 35 - Amendment of section 132. - Companies (Amendment) Bill, 2017

Amendment of section 132. 35. In section 132 of the principal Act,- ( i ) in sub-section ( 4 ), in clause ( c ), in sub-clause ( A ), in item ( II ), for the words ten lakh rupees , the words five lakh rupees shall be substituted; ( ii ) in sub-section ( 5 ), for the words, brackets and figure the Appellate Authority constituted under sub-section ( 6 ) in such manner as may be prescribed , the words the Appellate Tribunal in such manner and on payment of such fee as may be prescribed shall be substituted; ( iii ) sub-sections ( 6 ), ( 7 ), ( 8 ) and ( 9 ) shall be omitted.