Section 13: Penalties

(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 property, including fixed asset or documents belonging to the undertaking or wilfully suppresses or damages or destroys such property, fixed asset or document, which is to be taken over by the Government, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to five 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 five thousand rupees and in the case of continuing offence, with an additional fine which may extend to five hundred rupees for every day after the first during which the offence continues. (3) No Court shall take cognisance 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.