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Section 18 - Amendment of section 89 - The Companies (Amendment) Act, 2020

Extract

..... Amendment of section 89. 18. In section 89 of the principal Act,- (a) for sub-section (5), the following sub-section shall be substituted, namely:- "(5) If any person fails to make a declaration as required under sub-section (1) or sub-section (2) or sub-section (3), he shall be liable to a penalty of fifty thousand rupees and in case of continuing failure, with a further penalty of two hundred rupees for each day after the first during which such failure continues, subject to a maximum of .....

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Section 18 - Amendment of section 89 - The Companies (Amendment) Act, 2020

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