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of <h1>Amendment to Section 165: New Penalty for Directors Violating Directorship Limits, Daily Fines Imposed with a Cap.</h1> Section 165 of the principal Act has been amended by the Companies (Amendment) Act, 2020. The amendment replaces sub-section (6) with a provision that imposes a penalty on individuals who accept a directorship in violation of the section. The penalty is two thousand rupees for each day the violation continues beyond the first day, with a maximum limit of two lakh rupees.
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