(2)If any manager fails to give notice as required under sub-section (1), he shall, on conviction, be punished with fine which may extend to [five thousand rupees] [Substituted by Act No.27 of 1987.] or with simple imprisonment which may extend to [one year] [Substituted by Act No.27 of 1987.] or with both and with a fine of [rupees one hundred] [Substituted by Act No.27 of 1987.] for every day of further default.
