Section 7 - Amendment of section 64 - Companies (Amendment) Ordinance, 2019

Amendment of section 64 7 . In section 64 of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:- (2) Where any company fails to comply with the provisions of sub-section (1), such company and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues, or five lakh rupees whichever is less. .