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 1[rupees five crore], as may be determined by the Commission.
Footnotes in the official text
- 1.Subs. by s. 31, ibid., for “rupees one crore” (w.e.f. 18-5-2023).