Penalty for neglecting to comply with the provisions of section 7 or making any false statement in the memorandum

Any person who- (i) Wilfully omits or neglects to deliver or send memorandum as required by section 7; or (ii) makes any statement in such memorandum which is false in material particular, and which he knows or has reason to believe to be false. shall on conviction, be punished with fine which may extend to two hundred rupees.