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of <h1>Companies Act Amendment 2019: Section 64 Updated with Daily Penalties for Non-Compliance, Capped at Five Lakh Rupees.</h1> Section 64 of the principal Act has been amended by the Companies (Amendment) Ordinance, 2019, specifically altering sub-section (2). The new provision stipulates that if a company fails to comply with the requirements of sub-section (1), both the company and any defaulting officer are subject to a penalty. This penalty is set at one thousand rupees for each day the default persists, capped at a maximum of five lakh rupees.
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