Amendment status not verified — confirm the current text below against the official source.
(1) If any Director, Managing Agent, Manager, secretary or other office of any company or other body corporate to which State aid has been given, commits a breach of any order passed or rule made under this Act subject to which such State aid has been given or of any provision of this Act or any condition notified under section 14, he shall be liable to a fine which may extend to one thousand rupees. Penalty for breach 2) No court shall take cognizance of any offence punishable under sub-section(1) except on a compliant in writing by the Director. 3) Any contract made on behalf of a company or other body corporate in contravention of any condition subject to which State aid has been given to it shall as against such company or such body corporate be void; but nothing herein contained shall prejudice the right of any person affected by such contract to claim by due process of law, any relief to which he may be entitled against the person entering into such contract.