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of <h1>Section 446B of Companies Act 2013: Reduced Penalties for One Person, Small, Start-Up, and Producer Companies.</h1> Section 446B of the Companies Act, 2013, provides for reduced penalties for One Person Companies, small companies, start-up companies, and Producer Companies, as well as their officers in default or any other person associated with such companies. These entities are subject to a penalty not exceeding half of the specified penalty, with a cap of two lakh rupees for companies and one lakh rupees for officers or other persons. A 'Producer Company' and 'start-up company' are defined within the section, with the latter recognized under specific government notifications.
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