Penalty wording under section 159 amended to replace open-ended language with an express maximum cap on continuing default. Section 159 is amended by replacing the words "which may extend to" with "of" and inserting "subject to a maximum of five lakh rupees" after "default ... Summary
Penalty wording under section 159 amended to replace open-ended language with an express maximum cap on continuing default.
Section 159 is amended by replacing the words "which may extend to" with "of" and inserting "subject to a maximum of five lakh rupees" after "default continues". The amendment revises the penalty wording in the provision and introduces an express cap on the amount applicable to continuing default.
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