Offences and penalties.

(1) Any person, who is required to furnish any information or document under this Act, knowingly furnishes incorrect or untrue information or document or knowingly omits to furnish such information or document, shall be guilty of an offence and shall on conviction, be punishable with fine of one thousand rupees or with the imprisonment for a term of three months or with both.

(2) Where it is proved that the offence referred to in sub-section (1), has been committed with the consent or connivance of any officer or office bearer of a self-supporting co-operative society, then such an officer or office bearer of such society, shall be deemed to be guilty of that offence and he shall be punishable with fine of ten thousand rupees or with imprisonment for a term of three months or with both.

(3) Any person, who contravenes the provisions of this Act, rules or bye-laws made under this Act, for which no separate penalty is provided under this Act, shall be guilty of an offence and shall, on conviction, be punishable with the fine of five thousand rupees.