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of <h1>Companies Act Updated: Section 56 Penalty of 50,000 for Non-compliance with Sub-sections (1) to (5) Provisions.</h1> Section 56 of the principal Act has been amended by the Companies (Amendment) Act, 2020. The revised sub-section (6) stipulates that if there is any default in adhering to the provisions of sub-sections (1) to (5), the company and each officer responsible for the default will incur a penalty of fifty thousand rupees.
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