(1) Any person, who—
(a) having in his possession, custody or control any property forming part of the undertaking of the company, wrongfully withholds such property from the person or body of persons appointed under section 3, or
(b) wrongfully obtains possession of any property forming part of the undertaking of the company, or Use of properties under the management of the State Government.
Penalty.
214 The Mackintosh Burn (Taking over of Management) Act, 1976.
XLI of 1976.]
(Sections 7-11.)
(c) wilfully withholds or fails to produce to any person authorised under this Act, any register, record or other document which may be in his possession, custody or control, or
(d) fails, without any reasonable cause, to submit any accounts, books, or other documents when required to do so, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to two thousand rupees, or with both.
(2) All offences under this section shall be cognizable.
7. The person or body of persons appointed under section 3 shall have the power to institute, defend or take part in, any suit or proceeding by or against the company, relating to the undertaking of the company.
Power to institute or defend suits and proceedings.