(6)If the appointment of a person as a Managing or whole-time Director or a manager is not approved by the Central Government under sub-section (4), the person so appointed shall vacate his office as such Managing or whole-time Director or manager on the date on which the decision of the Central Government is communicated to the company, and if he omits or fails to do so, he shall be punishable with fine which may extend to [five thousand rupees][for every day during which he omits or fails to vacate such office.
