Penalty for collecting money in contravention of section 50:- Where any

educational institution is found to be collecting money in contravention of the provisions of sub-section (2) of section 50, every person, who at the time of such collection was in-charge of, and shall be responsible to the institution for its management shall, on conviction, shall be punished with imprisonment for a term which may extend to one week or with fine which may extend to one thousand rupees or with both. On such conviction the institution shall refund the monies so collected to the person from whom it was collected.