Duty of persons to furnish particulars

Duty of persons to furnish particulars.—

1. (1) Every person who has been, or is, in charge of the management of a sick textile undertaking, in relation to which a liquidator has been appointed, shall, within such time and in such form as may be specified by rules made under this Act, furnish to the liquidator a complete inventory of—
   • (a) all the properties, assets, debts and liabilities and obligations of the sick textile undertaking, subsisting at the time of the commencement of this Act;
   • (b) all the books of account, registers, maps, plans, records, documents of other title or other papers or writings in his possession or under his control relating to the sick textile undertaking.
2. (2) If any person fails or neglects to furnish the inventory of properties or the books of account or other records referred to in sub-section (1), he shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to one thousand rupees, or with both.