Penalty for breach of provision of Act, etc

Whoever contravenes any of the provisions of this Act or of any rule or regulation or scheme sanctioned thereunder, if no other penalty is provided for such contravention, be punishable-

1. (a) with fine which may extend to one hundred rupees; and
2. (b) in case of a continuing contravention with fine which may extend to fifty rupees for each day after the first during which the contravention continues.