Penalty for contravention of sections 417, 418 and 419. Any officer of a company, or any such trustee of a provident
4) of (section 418) who, knowingly, contravenes, or authorises or permits the contravention of, the provisions of (section 417) (section 418) or (section 419) , shall be punishable with 3 (44) 44. Substituted for "fine which may extend to five hundred rupees" by the Companies (Amendment) Act 1960 [imprisonment for a term which may extend to six months, or with fine which may extend to 3 (45) 45. Substituted for "one" by the Companies (Amendment) Act 2000 w.e.f. 13 12 2000 [ten] thousand rupees ] Receivers and managers