Penalty for breach of the provisions of the Act, etc.

Whoever contravenes any of the provisions of this Act or of any rule or regulation made or scheme sanctioned thereunder shall, if no other penalty is provided for such contravention, be punishable – (a) with fine which may extend to one hundred rupees; and (b) in case of a continuing contravention, with an additional fine which may extend to fifty rupees for every day after the first during which he has persisted in the contravention.