Without prejudice to the provisions of section 391, if a foreign company contravenes the provisions of this Chapter, the foreign company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to three lakh rupees and in the case of a continuing offence, with an additional fine which may extend to fifty thousand rupees for every day after the first during which the contravention continues and every of the who is in default shall be punishable with fine which shall not be less than twenty five thousand rupees but which may extend to five lakh rupees, or with both.
(a) has a place of business in India whether by itself or through an agent, physically or through electronic mode;
(b) conducts any business activity in India in any other manner.