(1)If default is made in filing with the Registrar for registration the particulars-(a)of any charge created by the company;(b)of the payment or satisfaction [* * *] of a debt in respect of which a charge has been registered under this Part; or(c)of the issues of debentures of a series, requiring registration with the Registrar under the provisions of this Part, then unless the registration has been effected on the application of some other person, the company, and every officer of the company or other person who is in default, shall be punishable with fine which may extend to [five thousand rupees] [ Substituted by Act 53 of 2000, Section 53, for " five hundred rupees" (w.e.f. 13.12.2000).] for every day during which the default continues.
