In section 143 of the principal Act, for sub-section (15), the following sub-section shall be substituted, namely:—

"(15) If any auditor, cost accountant, or company secretary in practice does not comply with the provisions of sub-section (12), he shall,—

(a)

in case of a listed company, be liable to a penalty of five lakh rupees; and

(b)

in case of any other company, be liable to a penalty of one lakh rupees.".