(2)(a)Any person who knowingly acts as a managing or other Director, [* * *] [ The words " managing agent or secretaries and treasurers" omitted by Act 53 of 2000, Section 182 (w.e.f. 13.12.2000).] or manager of a company in contravention of clause (b) of sub-section (1);[* * *] [ Clause (b) omitted by Act 53 of 2000, Section 182 (w.e.f. 13.12.2000).](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.
