45Penalty for contraventions in relation to furnishing of information.

¹[(1) Without prejudice to the provisions of section 44, if a person, who furnishes or is required to furnish under this Act any particulars, documents or any information,--
(a) makes any statement or furnishes any document which he knows or has reason to believe to be false in any material particular; or
(b) omits to state any material fact knowing it to be material; or
(c) wilfully alters, suppresses or destroys any document which is required to be furnished as aforesaid,
such person shall be punishable with fine which may extend to rupees one crore as may be determined by the Commission.]
(2) Without prejudice to the provisions of sub-section (1), the Commission may also pass such other order as it deems fit.