Punishment for taking gratification or valuable thing in respect of public procurement.

Whoever, being an officer or employee of the procuring entity acting in connection with any procurement process, accepts or obtains or agrees to accept or attempts to obtain from any person, for himself or for any other person, any gratification other than legal remuneration or any valuable thing without consideration or for a consideration which he knows to be inadequate, in connection with such public procurement, as a motive or reward for doing or forbearing to do any official act or for showing or forbearing to show, in the exercise of his official functions, favour or disfavour to any person or for rendering or attempting to render any service or disservice to any person, shall be punishable with imprisonment which shall not be less than six months but which may extend to seven years and shall also be liable to fine, which may extend to Rs. 50,00,000 or ten per cent of the assessed value of procurement, whichever is less.