The Government of Madhya Pradesh on July 12, 2023, issued the Madhya Pradesh Investment Promotion (Amendment) Act, 2023 to further amend the Madhya Pradesh Investment Promotion Act, 2008.
The following amendment has been stated:
For section 18, the following section has been substituted, namely: -
"18. Any entrepreneur, who fails to comply with the conditions or undertaking given in the self-certification given to the nodal agency or other department or authorities, shall be liable, for the first failure, to such penalty, as may be imposed by the competent authority, which may extend to fifty thousand rupees and for the second or subsequent failure shall be liable to a penalty which may extend to one lakh rupees.
It shall come into force from July 12, 2023.
[Notification No. 12978-MPVIS-15-Vidhan-2023]
