Penalty for improper issue, circulation or publication of balance sheet or profit and loss account :
Section – 218. (a) If any copy of a balance sheet or profit and loss account which has not been signed as required byis issued, circulated or published; or
(b) If any copy of a balance sheet is issued, circulated or published without there being annexed or attached thereto, as the case may be, a copy each of (i) the profit and loss account, (ii) any accounts, reports or statements which, by virtue of , are required to be attached to the balance-sheet, (iii) the auditors’ report, and (iv) the Board’s report referred to in ;
the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [five thousand] rupees.