(2)If default is made in complying with sub-section (1), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [five thousand rupees] [ Substituted by Act 53 of 2000, Section 46, for " five hundred rupees" (w.e.f. 13.12.2000).] for every day during which the default continues.
