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of <h1>Section 450 of Companies Act: Penalties for Unspecified Violations, Amended by 2020 Act, with Daily Fines and Maximum Limits.</h1> Section 450 of the Companies Act, 2013, addresses situations where no specific penalty is provided for contraventions of the Act or related rules. If a company, its officers, or any other person violates any provision or condition without a specified penalty, they are liable to a penalty of ten thousand rupees. For continuing violations, an additional penalty of one thousand rupees per day is imposed, with a maximum of two lakh rupees for companies and fifty thousand rupees for officers or other persons. This was amended by the Companies (Amendment) Act, 2020.
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