(5)If default is made in complying with the order of the [Tribunal] [Substituted by Act 11 of 2003, Section 18, for " Company Law Board" . ] under sub-section (4), every officer of the company who is in default, shall be punishable with imprisonment which may extend to three years and shall also be liable to a fine of not less than five hundred rupees for every day during which such default continues.]
