Section 15: Penalties

Any person who,- having in his possession or custody or control any asset or property forming part of or relatable to Institute wrongfully withholds such property from the Administrator or any person authorised under this Act, or wrongfully obtains possession of any such asset or property forming part of, or relatable to Institute, or wilfully retains any asset or property forming part of, or relatable to Institute or removes or destroys it, or wilfully withholds or fails to deliver any books, papers or other documents relatable to Institute which may be in his possession or custody or under his control to the Administrator or any person authorised under this Act, or fails to account therefor, or fails, without any reasonable cause, to furnish any information or particular or to furnish any inventory of properties and assets as provided in sub-section (3) of Section 7, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both.