(6)Where a company accepts or invites, or allows or causes any other person to accept or invite on its behalf, any deposit in excess of the limits prescribed under sub-section (1) or in contravention of the manner of condition prescribed under that sub-section or in contravention of the provisions of sub-section (2), as the case may be,-(a)the company shall be punishable,-(i)where such contravention relates to the acceptance of any deposit, with fine which shall not be less than an amount equal to the amount of the deposit so accepted;(ii)where such contravention relates to the invitation of any deposit, with fine which may extend to [ten lakh rupees] [Substituted by Act 53 of 2000, Section 18, for " one lakh rupees" (w.e.f. 13.12.2000). ] but shall not be less than [fifty thousand rupees] [Substituted by Act 53 of 2000, Section 18, for " five thousand rupees" (w.e.f. 13.12.2000). ];(b)every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to five years and shall also be liable to fine.
