[20. Penalties.--Any person who--
(a) (i) in any return, statement or other document required by or under this Act, makes a statement which is false in any material particular, knowing it to be false, or willfully omits to make a material statement; or
(ii) without reasonable excuse (the burden of proving which shall be on him) fails to furnish any return, statement or other document or any information or to answer any question or to comply with any requisition made under this Act or any rules made thereunder; or
(iii) enters into any forward contract during the period of suspension of business of a recognised association in pursuance of a notification under section 14; or
(b) is a member of any association, other than a recognised association, to which a certificate of registration has not been granted under this Act; or
(c) publishes or circulates information relating to the rate at which any forward contract has been entered into in contravention of any of the bye-laws of a recognised association; or
(d) organises, or assists in organising, or is a member of, any association in contravention of the provisions contained in the proviso to sub-section (1) of section 18; or
(e) enters into any forward contract or any option in goods in contravention of any of the provisions contained in sub-section (1) or sub-section (3A) or sub-section (4) of section 15, section 17 or section 19,
shall, on conviction, be punishable--
(i) for a first offence, with imprisonment which may extend to one year, or with a fine of not less than one thousand rupees, or with both;
(ii) for a second or subsequent offence under clause (d), or under clause (e) [other than an offence in respect of a contravention of the provisions of sub-section (4) of section 15], with imprisonment which may extend to one year and also with fine: Provided that in the absence of special and adequate reasons to the contrary to be mentioned in the judgment of the court, the imprisonment shall not be less than one month and the fine shall not be less than one thousand rupees.]