Penalties for contravention of other provisions.

If any licensee or other person refuses or fails without reasonable excuse to comply with or give effect to, any direction, order or requirement made under, any of the provisions of this Act, he shall be punishable with imprisonment which may extend to six months or with penalty by way of fine which may extend to Rs. 5,00,000 (five lakhs) or both and a further penalty which may extend to Rs. 20,000 (twenty thousand) for each day after the first during which the offence continues.