law: Indian Stamp Act, 1899 
  62. Penalty for executing, etc. instrument not duly
  
  stamped 
  (1) Any person- 
  (a) drawing, making, issuing, endorsing or
  
  transferring, or signing otherwise than as a witness, or presenting for
  
  acceptance or payment, or accepting, paying or receiving payment of or in any
  
  manner negotiating, any bill of exchange 89[payable otherwise than
  
  on demand] 90[* * *] or promissory note without the same being duly
  
  stamped; or
  (b) executing or signing otherwise than as a
  
  witness any other instrument chargeable with duty without the same being duly
  
  stamped; or
  (c) voting or attempting to vote under any
  
  proxy not duly stamped, shall for every such offence be punishable with fine
  
  which may extend to five hundred rupees:
  PROVIDED  that, when any penalty has been paid in
  
  respect of any instrument under section 35, section 40 or section 61, the
  
  amount of such penalty shall be allowed in the same instrument upon the person
  
  who paid such penalty.
  (2) If a share warrant is issued without being duly stamped, the
  
  company issuing the same, and also every person who, at the time when it is
  
  issued, is the managing director or secretary or other principal officer of the
  
  company, shall be punishable with fine which may extend to five hundred rupees.