Companies Act, 1956
Section - 168 - Penalty for default in complying with section 166 or 167
Penalty for default in complying with section or .168. If default is made in holding a meeting of the company in accordance with , or in complying with any directions of the [Tribunal or the Central Government, as the case may be] under sub-section (1) of , the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [fifty] thousand rupees [and in the case of a continuing default, with a further fine which may extend to [two thousand five hundred] rupees for every day after the first during which such default continues].
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