(1) A company shall, on being so required by a member, send to him within seven days of the requirement and subject to the payment of such fees as may be prescribed, copies of each of the following documents, namely:—

1. the memorandum;
2. the articles;
3. every agreement and every resolution referred to in sub-section (1) of section 117, if any, together with a copy of all the alterations made therein.

(2) If a company makes any default in complying with the provisions of this section, the company and every officer who is in default shall be liable, for each default, to a penalty of one thousand rupees for each day during which such default continues or one lakh rupees, whichever is less.