https://www.taxtmi.com/acts?id=53739 Section 446B of the Companies Act, 2013 is amended to revise the penalty formulation applicable under the provision. The existing wording, under which liability was limited to a penalty of not more than one-half of the penalty otherwise provided, is replaced with language stating that the liability shall be a penalty of one-half, or such percentage not exceeding one-half as may be prescribed, of the penalty. The amendment therefore introduces a prescribed flexibility in fixing the reduced penalty rate, while retaining the upper limit of one-half of the penalty. en-us Tue, 24 Mar 2026 15:16:02 +0530 Tue, 24 Mar 2026 15:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53739 Section 446B of the Companies Act, 2013 is amended to revise the penalty formulation applicable under the provision. The existing wording, under which liability was limited to a penalty of not more than one-half of the penalty otherwise provided, is replaced with language stating that the liability shall be a penalty of one-half, or such percentage not exceeding one-half as may be prescribed, of the penalty. The amendment therefore introduces a prescribed flexibility in fixing the reduced penalty rate, while retaining the upper limit of one-half of the penalty. Act-Rules Bills Tue, 24 Mar 2026 15:16:02 +0530 https://www.taxtmi.com/acts?id=53739