Monopolies and Restrictive Trade Practices Act,1969
Act No : 54
Section :
Penalty for failure to register agreements.
48. Penalty for failure to register agreements. (1) If any person fails, without any reasonable excuse, to register an agreement which is subject to registration under this Act, he shall be punishable 6[with imprisonment for a term which may extend to three years, or] with fine which may to extend to five thousand rupees, 7[or with both] and where the offence is a continuing one, with a further fine which may extend to five hundred rupees for every day, after the first, during which such failure continues. ----------------------------------------------------------------------- 1 Subs. by Act 30 to 1984, s.35 (w.e.f. 1-8-1984) 2 Omitted by Act 58 of 1991, s. 17 (w.e.f. 27-9-1991) 3 Omitted by s. 18, ibid. (w.e.f. 27.9.1991) 4 Ins. by s. 37, 30 of 1984 (w.e.f. 1-8-1984) 5 Omitted by s. 19, 58 of 1991 (w.e.f. 27-9-1991) 6 Ins by Act 30 of 1984, s. 39 (w.e.f. 1-8-1984) 7 Ins by s. 39 ibid (w.e.f. 1-8-1984) ----------------------------------------------------------------------- 45 (2) 1 * * * * * 2[48A. Penalty for contravention of order made under section 27B or for possession of property sold to any person under section 27B. Any person or body corporate who or which (a) being required by any order of the Central Government ref- erred to in sub-section (1) of section 27B to effect disinvestment of any shares or sale of the whole or any part of, any undertaking or undertakings by any method referred to in that sub-section, omits or fails to do so; or (b) having in his possession, custody or control any property or assets or any part thereof which have been sold to any person in pursuance of 'an order of the Central Government referred to in sub- section (1) of section 27B (hereinafter in this section referred to as the "purchaser"), wrongfully withholds such property, assets or part thereof from the purchaser; or (c) wrongfully obtains possession of any property, assets or any part thereof or retains any property, assets or any part thereof, which have been sold in pursuance of an order of the Central Government referred to in sub-section (1) of section 27B; or (d) withholds or fails to furnish to the purchaser, any document in his possession, custody or control relating, to the property, or any part or assets thereof, which have been sold in pursuance of an order of, the Central Government referred to in sub-section (1) of section 27B; or (e) fails to deliver to the purchaser the property, or any part or assets thereof which have been sold in pursuance of an order of the Central Government referred to in sub-section (1) of section 27B, or any books of account, registers and other documents in his possession, custody or control relating to such property, or any part or assets thereof; or (f) wrongfully removes or destroys any property or assets which have been sold in pursuance of an order of the Central Government referred to in sub-section (1) of section 27B; or (g) prefers any claim, in relation to the property, or any part or assets thereof which have been sold in pursuance of an order of the Central Government referred to in sub-section (1) of section 27B, which he knows, or has reason to believe, to be false or grossly inaccurate, shall be punishable with imprisonment for a term which may extend to two years and I also with fine which may extend to ten thousand' rupees. Penalty for contravention of section 27B. 3[48B. Penalty for contravention of section 27B. (1) Every person who exercises any voting right, in respect of any share in contravention of any order of the Central Government referred to in sub-section (1) of section 27B shall be punishable with imprisonment for a term which may extend to five years, and shall also be liable to fine. (2) If any company gives effect to any voting or other right exercised in relation to any share held in contravention of an order of the Central Government referred to in sub-section (1) of section 27B, the company shall be punishable with fine which may extend to five thousand rupees, and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years; or with fine which may extend to five thousand rupees, or with both." 48C Penalty for contravention of order made by Commission relating to unfair trade practices. If any person contravenes any order made by the Commission under section 36D he shall be punishable with imprisonment for a term 4[which shall not be less than six months but which may extend to Three years and with fine which may extend to ten lakh rupees: Provided that the court may, for reasons to be recorded in Writing, impose a sentence of imprisonment for a term lesser than the minimum term specified in this section.]
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