Section 13
Punishment
13. Punishment:
(1) If a person who has the duty to maintain, prepare and submit any statements, accounts, reports or other documents pursuant to this Act or the bye-laws 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 than 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 auditor appointed pursuant to Section 9 or any other authorized official with his or her business or does not provide, except for any reasonable reason, such document, explanation or information to the auditor or official as demanded, such a person shall be liable to the punishment of a fine of up to one thousand rupees.
(4) 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 offenders on the pro rata basis.
(1) If a person who has the duty to maintain, prepare and submit any statements, accounts, reports or other documents pursuant to this Act or the bye-laws 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 than 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 auditor appointed pursuant to Section 9 or any other authorized official with his or her business or does not provide, except for any reasonable reason, such document, explanation or information to the auditor or official as demanded, such a person shall be liable to the punishment of a fine of up to one thousand rupees.
(4) 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 offenders on the pro rata basis.