The aforesaid Register of Loans shall be kept at the registered office of the lending

(a) shall be open to inspection at such office, and

(b) extracts may be taken therefrom or copies thereof may be required by any member of the company to the same extent and in the same manner as in the case of register of members.

If default is made in complying with the aforesaid provisions of sub-section (5), the company and every officer of the company who is in default shall be punishable with fine upto Rs. 5,000 and also with a further fine of Rs. 500 for every day the default continues [ Sub-section (10)].