Section 19 - Amendment of section 157 - Companies (Amendment) Ordinance, 2019

Amendment of section 157 19. In section 157 of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:- (2) If any company fails to furnish the Director Identification Number under sub-section (1), such company shall be liable to a penalty of twenty-five thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of one lakh rupees, and every officer of the company Who is in default shall be liable to a penalty of not less than twenty-five thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of one lakh rupees. .