https://www.taxtmi.com/acts?id=32624 The substituted subsection (3) makes the company and every officer in default liable to a penalty capped by the lesser of the amount raised through the issue of shares at a discount or a specified statutory cap, and requires the company to refund all monies received with interest at the statutory rate from the date of issue to the persons to whom such shares were issued. en-us Sat, 03 Nov 2018 14:32:02 +0530 Mon, 14 Jan 2019 15:31:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32624 The substituted subsection (3) makes the company and every officer in default liable to a penalty capped by the lesser of the amount raised through the issue of shares at a discount or a specified statutory cap, and requires the company to refund all monies received with interest at the statutory rate from the date of issue to the persons to whom such shares were issued. Act-Rules F. Acts / Amendment Acts Sat, 03 Nov 2018 14:32:02 +0530 https://www.taxtmi.com/acts?id=32624