Section 39 - Amendment of section 188 - The Companies (Amendment) Act, 2020

Amendment of section 188. 39 . In section 188 of the principal Act, in sub-section (5),- (a) in clause (i), for the words punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees, or with both , the words liable to a penalty of twenty-five lakh rupees shall be substituted; (b) in clause (ii), for the words punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees , the words liable to a penalty of five lakh rupees shall be substituted.