Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act,1982

Act No : 71

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Section : PENALTIES

SECTION 27: PENALTIES
- Any person who,-
(a) having in its possession, custody or control any property forming part of the undertakings of the Company, wrongfully withholds such property from the Central Government or the Government company; or
(b) wrongfully obtains possession of, or retains, any property forming part of the undertakings of the Company; or
(c) wilfully withholds or fails to furnish to the Central Government or the Government company or any person or body of persons specified by that Government or Government company, any document relating to such undertakings, which may be in his possession, custody or control; or
(d) fails to deliver to the Central Government or the Government company or any person or body of persons specified by that Government or Government company, any assets, books of account, registers or other documents in his possession, custody or control, relating to the undertakings of the Company; or
(e) wrongfully removes or destroys any property forming part of the under- takings of the Company or prefers any claim under this Act which he knows or has reasonable cause to believe to be false or grossly inaccurate, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both.

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