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of <h1>Ban on using 'Limited' or 'Private Limited' in business names without incorporation; continuing daily fines for misrepresentation.</h1> Prohibits any person from trading or carrying on business under a name or title ending with 'Limited' or 'Private Limited', or any contraction or imitation of those words, unless the person is duly incorporated with limited liability or duly incorporated as a private company with limited liability, as applicable. Non-compliance attracts a continuing monetary penalty, with a fine of not less than five hundred rupees and up to two thousand rupees for every day the prohibited name or title is used, thereby deterring misrepresentation of limited liability status in business names.
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