Section 25 - Substitution of new section for section 159. - Companies (Amendment) Act, 2019

Substitution of new section for section 159. 25. For section 159 of the principal Act, the following section shall be substituted, namely:- Penalty for default of certain provisions. 159. If any individual or director of a company makes any default in complying with any of the provisions of section 152, section 155 and section 156, such individual or director of the company shall be liable to a penalty which may extend to fifty thousand rupees and where the default is a continuing one, with a further penalty which may extend to five hundred rupees for each day after the first during which such default continues. .