Jayanti Shipping Company (Acquisition of Shares) Act : Penalty for false statements. Indian Bare Acts

Jayanti Shipping Company (Acquisition of Shares) Act,1971

Act No : 63

Section : Penalty for false statements.

12. Penalty for false statements. (1) If any person,-- (a) when required by this Act or by any order under this Act to make any statement or furnish any information, makes any statement or furnishes any information which is false in any material particular and which he knows or believes to be false or does not believe to be true; or (b) makes any such statement as aforesaid in any book, account, record, return or other document which he is required by any order made under this Act to submit, he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to two thousand rupees, or with both. (2) Any person, who-- (a) having in his possession, custody or control any property forming part of the assets of the company, wrongfully withholds such property from the company, or any person authorised by the company, or (b) wrongfully obtains possession of any property forming part of the assets of the company, or (c) wilfully withholds or fails to produce to any person authorised under this Act, any register, record or other document which may be in his possession, custody or control, or 102 (d) fails, without any reasonable cause, to submit any accounts, books or other documents, when required to do so, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to two thousand rupees, or with both.