(2)If a security as defined under clause (h) of section 2 of Securities Contract (Regulation) Act, 1956 (Central Act 42 of 1956), is issued without being duly stamped, the company issuing the same and also every person, who, at the time when it is issued, is the managing director, secretary or other principal officer of the company, shall be punishable with fine which may extend to twenty five thousand rupees.]
