Section 31 - Amendment of section 147 - The Companies (Amendment) Act, 2020

Amendment of section 147. 31 . In section 147 of the principal Act,- (a) in sub-section (1),- (i) the words with imprisonment for a term which may extend to one year or shall be omitted; (ii) for the words one lakh rupees, or with both , the words one lakh rupees shall be substituted; (b) in sub-section (2), the word and figures, section 143 shall be omitted.