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of <h1>Amendment to Section 102: Penalties Increased for Non-Compliance by Company Executives, Up to Five Times Benefit Gained.</h1> Section 102 of the principal Act has been amended by replacing sub-section (5). The new provision states that if there is any default in complying with this section, every promoter, director, manager, or other key managerial personnel of the company responsible for the default will face a penalty. This penalty is set at fifty thousand rupees or five times the amount of benefit gained by the promoter, director, manager, or other key managerial personnel or any of their relatives, whichever is higher.
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