As per Section 143 (15) of the Companies Act 2013, If any auditor, cost accountant or company secretary in practice do not comply with the provisions of sub-section (12), he shall be liable to a penalty of ………….in case of a listed company.

This is important section because government has suggested a changes in this section in Companies Amendment Act 2020. The suggested changes are as follows: Section 143 (15): If any auditor, cost accountant, or company secretary in practice does not comply with the provisions of sub-section (12), he shall,— (a) in case of a listed company, be liable to a penalty of five lakh rupees and (b) in case of any other company, be liable to a penalty of one lakh rupees.