Section 17 - Amendment of section 76A - Companies (Amendment) Act, 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 or with fine , the words seven years and with fine shall be substituted; (ii) the words or with both shall be omitted.