₹10 lakh. The government has now proposed to make these civil offences, and work on a framework such that a penalty if enough to act as a deterrent.The development comes at a time when the economy is going through a crippling slowdown due to the imposition of a nationwide lockdown for over two months that brought economic activity to a standstill.
The move is also in with the steps announced by the government over the last one year to boost business sentiment. In March, the government had moved 72 amendments to the Companies Act, 2013, decriminalizing various offences and moderating the penalty regime to boost of ease doing business.