(1) If any person contravenes any order made under this Ordinance,—
(a) he shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine:
Provided that if the court is of opinion that a sentence of fine only will meet the ends of justice, it may, for reasons to be SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 5 recorded, refrain from imposing a sentence of imprisonment;
and
(b) any property in respect of which the order has been contravened or such part thereof as to the court may seem fit shall be forfeited to the Government:
Provided that if the court is of opinion that it is not necesstetry to direct forfeiture in respect of the whole or, as the case may be, any part of the property, it may, for reasons to be recorded, refrain from doing so.
(2) If any person to whom a direction is given under sub-section (4) of section 3 fails to comply with the direction he shall be punishable with imprisonment for a term which may extend to three years, or with fine, or with both.
9- False statements.—If any person,—
(i) when required by any order under this Ordinance 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 has reasonable cause to believe to be false, or does not believe to be true, or
(ii) makes any suck statement as aforesaid in any book, account, record, declaration, return or other document which he is required by any such order to maintain or furnish, he shall be punishable with imprisonment for a term which may extend to three years, or with fine, or with both.
10- Offences by companies.—(1) If the person contravening an order under section 3 or section 4 is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any punishment if he proves that the contravention took place without his knowledge or that he exercised all due diligence to prevent such contravention.
(2) Notwithstanding anything contained in sub-section (1), where an offence under this Ordinance has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.
Explanation.—For the purposes of this section,—
(a) 'company' means any body corporate, and includes a firm or other association of individuals; and
(b) 'director' in relation to a firm means a partner In the firm.
6 THE GAZETTE OF INDIA EXTRAORDINARY [PART II —SEC. I