Section 23: Amendment of section 124

Q: What does Section 23 of The Companies (Amendment) Act, 2020 (TCAA) deal with?

Section 23 TCAA pertains to "Amendment of section 124". It is part of the The Companies (Amendment) Act, 2020, a legislation enacted by the Parliament of India. Section 23 of The Companies (Amendment) Act, 2020 (TCAA) governs amendment of section 124. As verified on 19 May 2026.

Q: Is Section 23 TCAA still in force?

Yes, Section 23 of the The Companies (Amendment) Act, 2020 is currently in force across the Republic of India.

Q: What is धारा 23 TCAA?

धारा 23 TCAA is the Devanagari Hindi reference for Section 23 of the The Companies (Amendment) Act, 2020. Section 23 of The Companies (Amendment) Act, 2020 (TCAA) governs amendment of section 124. As verified on 19 May 2026.

Q: What is Dhara 23 TCAA?

Dhara 23 TCAA is the Roman Hindi reference for Section 23 of the The Companies (Amendment) Act, 2020. "Dhara" means "Section" in Hindi. Section 23 of The Companies (Amendment) Act, 2020 (TCAA) governs amendment of section 124. As verified on 19 May 2026.

Q: How to cite Section 23 of The Companies (Amendment) Act, 2020?

Cite as: "Section 23, The Companies (Amendment) Act, 2020 (TCAA)" in legal briefs. For academic writing, use the BlueBook format: The Companies (Amendment) Act, 2020, § 23 (India).

Law on Tips Editorial Board

In section 124 of the principal Act, for sub-section (7), the following sub-section shall be substituted, namely:—

"(7) If a company fails to comply with any of the requirements of this section, such company shall be liable to a penalty of one lakh rupees and in case of continuing failure, with a further penalty of five hundred rupees for each day after the first during which such failure continues, subject to a maximum of ten lakh rupees and every officer of the company who is in default shall be liable to a penalty of twenty-five thousand rupees and in case of continuing failure, with a further penalty of one hundred rupees for each day after the first during which such failure continues, subject to a maximum of two lakh rupees.".