392. Punishment for contravention.— Without prejudice to the provisions of section 391, if a
foreign company contravenes the provisions of this Chapter, the foreign company shall be punishable
with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in
the case of a continuing offence, with an additional fine which may extend to fifty thousand rupees for
every day after the first during which the contravention continues and every officer of the foreign
company who is in default shall be punishable with imprisonment for a term which may extend to six
months or with fine which shall not be less than twenty-five thousand rupees but which may extend to
five lakh rupees, or with both.
