Reduced penalties for certain companies: capped, halved penalties apply to specified small entities and responsible officers. Section 446B provides that where a One Person Company, small company, start up company or Producer Company, or an officer in default or other person in respect of such company, is liable for non compliance under the Act, the penalty shall be not more than one half of the penalty specified in the relevant provisions, subject to maximum caps of two lakh rupees for a company and one lakh rupees for an officer in default or any other person.