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Competition Act, 2002

44. Penalty 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.

Competition Act, 2002 Back

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