Section 28 - Amendment of section 137 - The Companies (Amendment) Act, 2020

Amendment of section 137. 28 . In section 137 of the principal Act, in sub-section (3),- (a) for the words one thousand rupees for every day during which the failure continues but which shall not be more than ten lakh rupees , the words ten thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of two lakh rupees, shall be substituted; (b) for the words one lakh rupees , the words ten thousand rupees shall be substituted; (c) for the words five lakh rupees , the words fifty thousand rupees shall be substituted.