Lesser penalties for certain companies

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..... officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not be more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other pers .....

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..... e than one-half of the fine or imprisonment or fine and imprisonment, as the case may be, of the minimum or maximum fine or imprisonment or fine and imprisonment, as the case may be, specified in such sections 3. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2020 dated 28-09-2020 w.e.f. 22-01-2021 before it was read as 1 [Lesser penalties for One Person Companies or small compan .....

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