Amendment of section 454

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....inserted, namely:- "(1A) A company or its officer who is in default, may make an application in such form and manner and on payment of such fees, as may be prescribed under this section for adjudication of penalty."; (c) in sub-section (5),- (i) after the words "Regional Director having jurisdiction in the matter", the words "or to such Appellate Authority, as the Centra....

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....direct such officer or the other person to pay the amount of penalty imposed by the said order" shall be inserted; (f) after sub-section (8), the following sub-sections shall be inserted, namely:- "(9) The penalties realised under this section shall be credited to the Consolidated Fund of India. (10) On and from the commencement of the Corporate Laws (Amendment) Act, 202....