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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 405: Companies face penalties for non-compliance or misinformation, with daily fines up to three lakh rupees.</h1> Section 405 of the principal Act has been amended by the Companies (Amendment) Act, 2020. The revised sub-section (4) stipulates that if a company fails to comply with orders under sub-sections (1) or (3), or provides incorrect or incomplete information, both the company and its responsible officers will incur a penalty of twenty thousand rupees. For ongoing non-compliance, an additional penalty of one thousand rupees per day will be imposed, with a maximum limit of three lakh rupees.
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