Section 30
34 Penalties
(1) If a person who has the duty to maintain, prepare or submit any statements, accounts report or other document pursuant to this Act or the Rules framed under this Act, knowingly or with ulterior motive, conceals the truth and state a false matter in such accounts or report or other documents or alters the contents or attempts to do such an act, that person shall be liable to the punishment of imprisonment for a term not exceeding
33 Repealed by First Amendment.
34 Amended by First Amendment.
Three years or a fine of up to Three Thousand Rupees or with both punishments.
(2) If any director or employee of the Agency causes any loss or damage to the Agency by doing any act knowingly or recklessly or with ulterior motive, other that that set forth in Sub-section (1), such a director or employee shall be liable to the punishment of imprisonment for a term not exceeding One year or a fine of up to One Thousand Rupees.
(3) If any director or employee of the Agency obstructs the inspector appointed under Section 22 to make inquiry with his or her business or does not provide, except for any reasonable reason, such document or information to such a person as demanded by him or her in accordance with law, or commits recklessness in the provision of such document or information, such a person shall be liable to the punishment of a fine of up to One Thousand Rupees.
(4) If any person uses the name of the Agency in any prospectus or advertisement without obtaining written permission of the Agency, the person shall be liable to the punishment of imprisonment for a term not
exceeding Six months or a fine of up to One Thousand Rupees or with both punishments.
(5) If any person who was the then director or general manager of the Agency becomes a partner in a written contract made with the Agency in violation of Section 16 and without making disclosure as required under that Section and makes or attempts to make any undue benefit in that capacity, that person shall be liable to the punishment of imprisonment for a term not exceeding Two years or a fine of up to Five Thousand Rupees or
with both punishments.
(6) If the Agency has suffered any loss or damage from any offence punishable under this Section, the amount of such loss or damage shall also be recovered from the person who has committed that offence.(35)
33 Repealed by First Amendment.
34 Amended by First Amendment.
Three years or a fine of up to Three Thousand Rupees or with both punishments.
(2) If any director or employee of the Agency causes any loss or damage to the Agency by doing any act knowingly or recklessly or with ulterior motive, other that that set forth in Sub-section (1), such a director or employee shall be liable to the punishment of imprisonment for a term not exceeding One year or a fine of up to One Thousand Rupees.
(3) If any director or employee of the Agency obstructs the inspector appointed under Section 22 to make inquiry with his or her business or does not provide, except for any reasonable reason, such document or information to such a person as demanded by him or her in accordance with law, or commits recklessness in the provision of such document or information, such a person shall be liable to the punishment of a fine of up to One Thousand Rupees.
(4) If any person uses the name of the Agency in any prospectus or advertisement without obtaining written permission of the Agency, the person shall be liable to the punishment of imprisonment for a term not
exceeding Six months or a fine of up to One Thousand Rupees or with both punishments.
(5) If any person who was the then director or general manager of the Agency becomes a partner in a written contract made with the Agency in violation of Section 16 and without making disclosure as required under that Section and makes or attempts to make any undue benefit in that capacity, that person shall be liable to the punishment of imprisonment for a term not exceeding Two years or a fine of up to Five Thousand Rupees or
with both punishments.
(6) If the Agency has suffered any loss or damage from any offence punishable under this Section, the amount of such loss or damage shall also be recovered from the person who has committed that offence.(35)