Kosangas Company (Acquisition of Undertakings) Act,1979

Act No : 28

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Section : PENALTIES

SECTION 14: PENALTIES

Any person who,-

(a) having in his possession, custody or control any property forming part of the undertaking wrongfully withholds such property from the Central Government or the successor Government company; or

(b) wrongfully obtains possession of, or retains, any property forming part of the undertaking; or

(c) wilfully withholds or fails to furnish to the Central Government or the successor Government company or any person authorised in this behalf by the Central Government or that company, any books, documents or other papers relating to the undertaking which may be in his possession, custody or control; or

(d) fails to deliver to the Central Government or the successor Government company, any assets, books of account, registers or other documents in his possession, custody or control relating to the undertaking; or

(e) wrongfully removes or destroys any property forming .part of the undertaking; or

(f) wrongfully uses any property forming part of the undertaking; 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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