Penalty and interpretation :
Section – 59. (1) If any prospectus is issued in contravention of section or , the company, and every person, who is knowingly a party to the issue thereof, shall be punishable with fine which may extend to [fifty] thousand rupees.
(2) In sections and , the expression “expert” includes an engineer, a valuer, an accountant and any other person whose profession gives authority to a statement made by him.