Penalties.

Any person who – (a) fraudulently evades the payment of any fee, market fees or other amount due from him under this Act or the rules or bye-laws made thereunder, or (b) wilfully acts in contravention of any of the provisions of this Act, shall be punishable with fine which may extend to five hundred rupees, and in the case of a continuing evasion or contravention, with a further fine which may extend to one hundred rupees for every day during which the evasion or contravention is continued after conviction therefor.