LawgistThe Competition Act
44Penalty for making false statement or omission to furnish material information
If any person, being a party to a combination,--
(a) makes a statement which is false in any material particular, or knowing it to be false; or
(b) omits to state any material particular knowing it to be material,
such person shall be liable to a penalty which shall not be less than rupees fifty lakhs but which may extend to rupees one crore, as may be determined by the Commission.
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PENALTIES
- 42 Contravention of orders of Commission
- 42A Compensation in case of contravention of orders of Commissio
- 43 Penalty for failure to comply with directions of Commission and Director General
- 43A Power to impose penalty for non-furnishing of information on combinations
- 44 Penalty for making false statement or omission to furnish material information
- 45 Penalty for offences in relation to furnishing of informatio
- 46 Power to impose lesser penalt
- 47 Crediting sums realised by way of penalties to Consolidated Fund of India
- 48 Contravention by companies
