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of <h1>Companies Ordinance 2019: Section 121 amended to impose stricter penalties for late report filing and officer non-compliance.</h1> In the Companies (Amendment) Ordinance, 2019, section 121 of the principal Act is amended to revise sub-section (3). If a company fails to file the required report by the deadline, it incurs a penalty of one lakh rupees, with an additional penalty of five hundred rupees per day for ongoing non-compliance, capped at five lakh rupees. Officers in default face a minimum penalty of twenty-five thousand rupees, with a further daily penalty of five hundred rupees for continued non-compliance, up to a maximum of one lakh rupees.
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