Every person who —
(a) having in his possession, custody or control any property or assets held for the purposes of a scheduled college wrongfully withholds such property or asset in contravention of sub-section (1) of section 5 ; or
(b) wrongfully obtains possession of or retains any property or asset held for the purposes of any scheduled college ; or
(c) willfully withholds or fails to account for any book, paper or other document in his possession, custody or control relating to a scheduled college, in contravention of sub-section (2) of section 5 ; or
(d) wrongfully uses, removes or destroys any property held for the purposes of a scheduled college ;
shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to three thousand rupees or with both.