Punishment for contravention.

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....ees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees, or with both.      (2) If an auditor of a company contravenes any of the provisions of section 143, section 144 or section 145, the auditor....

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....ny; and           (ii) pay for damages to the company or to any other persons for loss arising out of incorrect or misleading statements of particulars made in his audit report.      (4) Where, in case of audit of a company being conducted by an audit firm, it is proved that the partner or partners of the audit firm has or hav....