Section 33
Penalties
(1) If a person who has the duty to maintain any accounts or submit any report pursuant to this 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 Three years or a fine of up to Three Thousand Rupees or with both punishments.
(2) If any director or employee of the Corporation causes loss to the Corporation by doing any act knowingly or recklessly or with ulterior motive by doing any act 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 person obstructs the inspector appointed or committee formed under Section 29 with his or her business or does not provide, except for any reasonable reason, such document or information to the inspector or committee as demanded, without any reasonable reason, 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 Corporation in any prospectus or advertisement without obtaining written permission of the Corporation, 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 Corporation becomes a partner in a written contract made with the Corporation in violation of Section 18 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 Corporation 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 offender.
(2) If any director or employee of the Corporation causes loss to the Corporation by doing any act knowingly or recklessly or with ulterior motive by doing any act 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 person obstructs the inspector appointed or committee formed under Section 29 with his or her business or does not provide, except for any reasonable reason, such document or information to the inspector or committee as demanded, without any reasonable reason, 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 Corporation in any prospectus or advertisement without obtaining written permission of the Corporation, 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 Corporation becomes a partner in a written contract made with the Corporation in violation of Section 18 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 Corporation 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 offender.