law: Companies Act, 1956
  Sec 142    -    
  
  Penalties. 
  (1) If default is made in filing with the
  
  Registrar for registration the particulars
  (a) of any charge created by the company ;
  (b) of the payment or satisfaction of a debt
  
  in respect of which a charge has been registered under this Part ; or
  (c) of the issues of debentures of a series ;
  requiring registration with the Registrar
  
  under the provisions of this Part, then, unless the registration has been
  
  effected on the application of some other person, the company, and every
  
  officer of the company or other person who is in default, shall be punishable
  
  with fine which may extend to five thousand rupees for every day during which
  
  the default continues.
  (2) Subject as aforesaid, if any company makes
  
  default in complying with any of the other requirements of this Act as to the
  
  registration with the Registrar of any charge created by the company or of any
  
  fact connected therewith, the company, and every officer of the company who is
  
  in default, shall, without prejudice to any other liability, be punishable with
  
  fine which may extend to ten thousand rupees.