(c)every other Director or every Director, as the case may be, of the company, who is knowingly a party to such contravention, shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to [fifty thousand rupees] [ Substituted by Act 53 of 2000, Section 182, for " five thousand rupees" (w.e.f. 13.12.2000).], or with both.