27Unqualified persons not to sign documents.

(1) No person other than a member of the Institute shall sign any document on behalf of cost accountant in practice or a firm of such cost accountants in his or its professional capacity.
¹[(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable on first conviction with a fine not less than ²[one lakh rupees] but which may extend to ³[five lakh rupees], and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less than ⁴[two lakh rupees] but which may extend to ⁵[ten lakh rupees[ or with both.]