Subs. by Act 22 of 2019, s. 41, for " twenty lakh rupees" (w.e.f. 2-11-2018). — THE COMPANIES ACT, 2013

3 . Subs. by Act 22 of 2019, s. 41, for " twenty lakh rupees" (w.e.f. 2-11-2018). thereunder, or any condition, limitation or restriction subject to which any approval, sanction, consent, confirmation, recognition, direction or exemption in relation to any matter has been accorded, given or granted, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be 1 [liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of on thousand rupees for each day after the first during which the contravention continue, 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] .

Section 3