Company Law Section 453-Punishment For Improper Use Of Limited Or Private Limited

If any person or persons trade or carry on business under any name or title, of which the word Limited or the words Private Limited or any contraction or imitation thereof is or are the last word or words, that person or each of those persons shall, unless duly incorporated with limited liability, or unless duly incorporated as a private company with limited liability, as the case may be, punishable with fine which shall not be less than five hundred rupees but may extend to two thousand rupees for every day for which that name or title has been used.