Penalty for default in complying with section or :
Section – 168. If default is made in holding a meeting of the company in accordance with, or in complying with any directions of the [ Tribunal or the Central Government, as the case may be] under sub-section (1) of , the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [fifty] thousand rupees [and in the case of a continuing default, with a further fine which may extend to [two thousand five hundred] rupees for every day after the first during which such default continues]