Notice by liquidator of his appointment :
Section – 516. (1) The liquidator shall, within [thirty] days after his appointment publish in the Official Gazette, and deliver to the Registrar for registration, a notice of his appointment in the form prescribed.
(2) If the liquidator fails to comply with sub-section (1), he shall be punishable with fine which may extend to [five hundred] rupees for every day during which the default continues.