450. Punishment where no specific penalty or punishment is provided
If a company or any officer of a company or any other person contravenes any of
the provisions of this Act or the rules made thereunder, or any condition, limitation or
restriction subject to which any approval, sanction, consent, confirmation, recognition,
direction or exemption in relation to any matter has been accorded, given or granted, and for
which no penalty or punishment is provided elsewhere in this Act, the company and every
officer of the company who is in default or such other person shall be punishable with fine
which may extend to ten thousand rupees, and where the contravention is continuing one,
with a further fine which may extend to one thousand rupees for every day after the first
during which the contravention continues.