Amendment status not verified — confirm the current text below against the official source.
(1) Whoever,] being required to furnish any information or make any statement under this Act, furnishes any information ·or makes any statement which he knows to be false, or whoever wilfully fails to hand over to the Government or obstructs in taking over by the Government of any fixed asset or document belonging to the undertaking or wilfully suppresses or damages or destroys such fixed asset or document, which is to be taken over by the Govern- . ment, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to twenty thousand rupees or with both, and in the case of a continuing offence, with an additional fine which may extend to five hundred rupees, for every day after the first during ;;. which the offence continues. (2) Whoever fails, without reasonable cause, to comply with any of the provisions of this Act or the rules made thereunder, or any direction or order issued in pursuance thereof, shall, if the case be not governed by sub-section (1), be punishable with fine which may extend to twenty thousand r upees and in the case of a continuing offence, with an additi@nal fine which may extend to five hundred rupees, for every day after the first during which the offence continues. (3) No Court shall take cognizance of an offence punishable under this section except with the previous sanction of the Government or of an officer authorised by them in this behalf. (4) Notwithstanding anything contained in section Central Act 32 of the Code of Criminal Procedure, 1898, it shall 5 of 1898. be lawful for any Magistrate of the First Class specially empowered by the Government in this behalf, to impose a sentence of fine exceeding two thousand rupees when awarding punishment under sub-section (I) or (2). · Offences by