Act Number: 29

Act Name: The British India Corporation Limited (Acquisition of Shares) Act, 1981

Year: 1981

Enactment Date: 1981-09-11

Long Title: An Act to provide for the acquisition of certain shares of the British India Corporation Limited with a view to securing the proper management of the affairs of the Company and the continuity and development of the production of goods which are vital to the needs of the country and for matters connected therewith or incidental thereto.

Ministry: Ministry of Textiles

Department:

Section 17: Penalties.
    If any person,--
         (a) makes any claim for any payment under this Act, knowing or having reason to believe that such claim is false or without any basis; or
         (b) when required under this Act so to do,--
             (i) omits or fails to produce any register or record of the Company; or
             (ii) makes any statement of furnishes any information which is false in any material particular and which he knows or believes to be false or does not believe to be true; or
         (c) makes any such statement as aforesaid in any book, account, record, register, return or other document,
he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to two thousand rupees, or with both.
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