(3)If a company with intent to defraud renews a certificate or issues a duplicate thereof, the company shall be punishable with fine which may extend to [one lakh rupees] [ Inserted by Act 65 of 1960, Section 25 (w.e.f. 28.12.1960).] and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to [one lakh rupees] [Substituted by Act 53 of 2000, Section 37, for " ten thousand rupees" (w.e.f. 13.12.2000). ], or with both.
