(2)If any inspection required under sub-section (1) is refused,-(a)the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [five hundred rupees]; and(b)the [Central Government or Tribunal, as the case may be] [ Substituted by Act 11 of 2003, Section 35, for " Company Law Board" .] may, by order, compel an immediate inspection of the register.
