392. Punishment for contravention
Without prejudice to the provisions of section 391, if a foreign company
contravenes the provisions of this Chapter, the foreign company shall be punishable with
fine which shall not be less than one lakh rupees but which may extend to three lakh rupees
and in the case of a continuing offence, with an additional fine which may extend to fifty
thousand rupees for every day after the first during which the contravention continues and
every officer of the foreign company who is in default shall be punishable with imprisonment
for a term which may extend to six months or with fine which shall not be less than twentyfive
thousand rupees but which may extend to five lakh rupees, or with both.