The Industrial Finance Corporation Act, 1948
41. Offences.
- Whoever in any bill of lading, warehouse receipt or other
instrument given to the Corporation where by security is given or is purported
to be given to the Corporation for any accommodation granted by it under this
Act wilfully makes any false statement, or knowingly permits any false
statement to be made, shall be punishable with imprisonment for a term which
may extend to two years or with fine which may extend to two thousand rupees or
with both.
- Whoever without the consent in
writing of the Corporation uses the name of the Corporation in any prospectus
or advertisement shall be punishable with imprisonment for a term which may
extend to six months or with fine which may extend to one thousand rupees or
with both.
- No Court shall take cognizance
of any offence punishable under this Act otherwise than on a complaint in
writing signed by an officer of the Corporation authorized by the Board in
this behalf.
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