Section 75. Every Company formed under this Act, after the commencement of this Act, shall hold a general meetin

75. Every Company formed under this Act, after the commencement of this Act, shall hold a general meeting within six months after its memorandum of association is registered; and, if such meeting is not held, the Company shall be liable to a penalty not exceeding fifty rupees a day for every day after the expiration of such six months, until the meeting is held; and every director or manager of the Company and every subscriber of the memorandum of association [ACT VI] 1882.] Companies. tion who knowingly authorizes or permits such default shall be liable to the same penalty.