Section-45 Penalty for offences in relation to furnishing of information

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Section-45 Penalty for offences in relation to furnishing of information.-

1.     Without prejudice to the provisions of section 44, if any person, who furnishes or is required to furnish under this Act any particulars, documents or any information,-

a.     makes any statement or furnishes any document which he knows or has reason to believe to be false in any material particular; or

b.    omits to state any material fact knowing it to be material; or

c.     wilfully alters, suppresses or destroys any document which is required to be furnished as aforesaid, the Commission shall impose on such person a penalty which may extend to rupees ten lakhs.

2.     Without prejudice to the provisions of sub-section (1), the Commission may also pass such other order as it deems fit.

 

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