Section 52(3) in The M.P. Swayatta Sahakarita Adhiniyam, 1999
(3)[ If the returns and information as specified in sub-sections (1) and (2) are not filed with or furnished to the Registrar within the period specified in sub-section (1), the Registrar may, by an order, impose penalty of not exceeding ten thousand rupees, on the Board which was responsible, after giving the Board a reasonable opportunity of being heard and all the Directors of the Board shall be jointly liable for such penalty.] [[Substituted by M.P. Act No. 16 of 2010. Prior to substitution it was as under:'(3) If the returns and information, as specified in sub-sections (I ) and (2), are not filed with or furnished to the Registrar within the period specified in sub-section (1) it shall be treated as an offence under this Act and the board shall be penalised in accordance with the provisions of this Act.']]
