Penalty for contravention of section 49

If any liquidator fails—

1. (a) to call a general meeting of the corporation or a meeting of the creditors under clause
2. (b) of sub-section

1. (1) of section 49, or
   • (b) to send a copy of the account to the Registrar or to make a return to him of the holding of the meetings under sub-section
2. (2) of that section, he shall, on conviction, be punished with fine, which may extend to one hundred rupees in respect of each such failure.