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        F. Acts / Amendment Acts

        Section 24 - Amendment of section 197

        Companies (Amendment) Ordinance, 2019

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        Penalty for non-compliance imposes distinct personal and corporate fines for defaults under the amended provision. Amendment to section 197 omits sub-section (7) and substitutes sub-section (15), providing that a person who defaults in complying with the section is liable to a penalty of one lakh rupees and a company which defaults is liable to a penalty of five lakh rupees.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Penalty for non-compliance imposes distinct personal and corporate fines for defaults under the amended provision.

                              Amendment to section 197 omits sub-section (7) and substitutes sub-section (15), providing that a person who defaults in complying with the section is liable to a penalty of one lakh rupees and a company which defaults is liable to a penalty of five lakh rupees.


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