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 or 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.