(2)If a copy is refused, or is not forwarded within the time specified in sub-section (1), the company, and every officer of the company who is in default, shall be punishable, for each offence, with fine which may extend to [five hundred rupees] [ Substituted by Act 53 of 2000, Section 49, for " fifty rupees" (w.e.f. 13.12.2000).] and with a further fine which may extend to [two hundred rupees] [ Substituted by Act 53 of 2000, Section 49, for " twenty rupees" (w.e.f. 13.12.2000).] for every day during which the offence continues.
