law: Part III
  Offences and Their Trial
  24. Penalties.-
  (1) Any person who,-
  (a) having in his possession, custody or control any property forming part of the undertaking which has vested in the Central Government under section 3, wrongfully withholds such property from the Central Government or new company, or
  (b) wrongfully obtains possession of any property forming part of such undertaking, or
  (c) being required by sub-section (2) of section 5 so to do, wilfully withholds or fails to furnish to the Central Government, new company or any other person specified by that Government or the new company, any document which may be in his possession, custody or control, or
  (d) wilfully fails to furnish an inventory as required by section 6, or furnishes an inventory containing any particulars which are incorrect or false in material particulars and which he either knows or believes to be false or does not believe to be true, or
  (e) being required by the Central Government or the new company in writing so to do, fails to furnish any return, statement or other information relating to the undertaking of the old company which has vested in the Central Government under section 3, or
  (f) makes a false or frivolous claim before the Tribunal with regard to the ownership of, or any right in, any share, or
  (g) fails to comply with any order of direction made under this Act,
  shall be punishable with imprisonment for a term which may extend to three years, or with fine which may extend to ten thousand rupees, or with both:
  Provided that the court trying any offence under clause (a), clause (b) or clause (c) of this sub-section may, at the time of convicting the accused person, order him to deliver up or refund, within a period to be fixed by the court, any property or money wrongfully withheld or wrongfully obtained or any document wilfully withheld or not furnished.
  (2) No court shall take cognizance of an offence punishable under this section except with the previous sanction of the Central Government or an officer authorised by that Government in this behalf.