Section 63 - Amendment of section 450 - The Companies (Amendment) Act, 2020

Amendment of section 450. 63 . In section 450 of the principal Act, for the words punishable with fine which may extend to ten thousand rupees, and where the contravention is continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues , the words liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person shall be substituted.