453. Punishment for improper use of “Limited” or “Private Limited”
If any person or persons trade or carry on business under any name or title, of
which the word “Limited” or the words “Private Limited” or any contraction or imitation
thereof is or are the last word or words, that person or each of those persons shall, unless
duly incorporated with limited liability, or unless duly incorporated as a private company
with limited liability, as the case may be, punishable with fine which shall not be less than five
hundred rupees but may extend to two thousand rupees for every day for which that name or
title has been used.