Whoever, fails to comply with any order or direction given under this Act, within such time as may be specified in the said order or direction or contravenes or attempts or abets the contravention of any of the provisions of this Act or any rules or regulations made thereunder, shall be punishable with 1[fine which shall not be less than ten thousand rupees but which may extend to ten lakh rupees] in respect of each offence and in the case of a continuing failure, with an additional fine 2[which shall not be less than one thousand rupees but which may extend to fifty thousand rupees] for every day during which the failure continues after conviction of the first such offence:
[Provided that nothing contained in this section shall apply to the orders, instructions or directions issued under section 121.]