(1) The company shall give notice to the Registrar of the appointment of a liquidator or liquidators made by it under section 490, of every vacancy occurring in the office of liquidator, and of the name of the liquidator or liquidators appointed to fill every such vacancy under section 492.1. Subs. by Act 53 of 2000, sec. 195, for "one hundred rupees" (w.e.f. 13-12-2000).
(2) The notice aforesaid shall be given by the company within ten days of the event to which it relates.
(3) If default is made in complying with sub-section (1) or (2), the company, and every officer of the company (including every liquidator or continuing liquidator) who is in default, shall be punishable with fine which may extend to 1[one thousand rupees] for every day during which the default continues.
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