(3)If any inspection required under sub-section (1) is refused, or if any copy required under sub-section (2) is not furnished within the time specified therein, 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 82, for " five hundred rupees" (w.e.f. 13.12.2000).] in respect of each offence.
