Name of Act

Section Number

Gist of the Section

(1)

(2)

(3)

1. The Customs Act, 1962 (52 of 1962). (As to confiscation and penalties, see section 111 and 112 et seq. At to false declaration see sections 132.

135

Without prejudice to any action that may be taken under this Act, if any person--

(a) is in relation to any goods in any way knowingly concerned in any fraudulent evasion or attempt at evasion of any duty chargeable thereon or of any prohibition for the time being imposed under this Act or any other law for the time being in force with respect to such goods, or

(b) acquires possession of or is in any way concerned in carrying, removing, deposing, harboring, keeping, concealing, selling or purchasing or in any other manner dealing with any goods which he knows or has reason to believe are liable to confiscation under section 111, he shall be punishable,--

(i) in the case of and offense relating to any of the goods to which section 123 applies and the market price whereof exceeds one lakh of rupees, with imprisonment for a term which may extend to five years and with fine:

Provided that, in the absence of special and adequate reasons to the contrary, to be recorded in the judgment of the court, such imprisonment shall not be less than six months;

(ii) in any other case, with imprisonment for a term which may extend to two years, or with fine, or with both.

(As to offenses under the Act being regarded as "economic crimes", and the need for punishing severely such offenses, see State v. Kumari Dhrupati Bhawani, AIR 1965 Bom. 6.)

2. The Atomic Energy Act, 1962 (33 of 1962).

24

The section makes contravention of orders made under section 14, 17 and 18 punishable with imprisonment for a term which may extend to 5 years. Section 14, inter alia,provides that the Central government may, by order, prohibit, except under a licence, the production, possession, use, disposal, export of import of prescribed substances or other mineral, or of any plant designed for development of atomic energy etc.

3. The Coffee Act, 1942 (7 of 1942).

20

Section 20 provides that no coffee shall be exported from India otherwise than by Board or under an authorization granted by the Board, and the provisions of the Sea Customs Act have been made applicable to any violation of this provision. The Board is constituted under section 4. Section 21 deals with import of exported coffee.

4. The Imports and Exports (Control) Act, 1947 (18 of 1947).

5

Section 5 makes the contravention or attempts at contravention of any order made under the Act punishable with imprisonment for a term which may extend to one year.

If any person contravenes or attempts to contravene, or abets a contravention of, any order made or deemed to have been made under this Act, or any condition of a license granted under any such order, he shall, without prejudice to any confiscation or penalty to which he may be liable (2) of section 3, be punishable with imprisonment for a term which may extend to one year, or with fine, or with both.

(As to the need for punishing such offences severely, see State v. Kumari Dhrupati, AIR 1962 Bom 6.)

5. The Essential Commodities Act, 1955 (10 of 1955).

7

The section makes contravention of orders made under section 3 as punishable with imprisonment which varies from one year to three year in make and order imposing a sentence of fine alone. Section 3 gives powers to the Central Government to control production, supply and distribution of essential commodities.

6. The Indian Standards Institution (Certification Marks( Act, 1952 (36 of 1952).

13

The section provides penalty for contravention of the provisions of section 5 and section 6 of the Act. Section 5 prohibits improper use of the standard marks or any colourable imitation thereof Section 6 prohibits the use without previous permission of the Institution, of any name resembling the name of the Indian Standards Institution, etc.

7. Industries (Development & Regulation) Act, 1951 (65 of 1951).

24

The section makes contravention or attempts at contravention of provisions of section 10, 11, 11A, 13(1), 18B and 18G and 29B(2) or direction or order made thereunder punishable with imprisonment which may extend to 6 months or with fine. Section 3 makes it obligatory for every owner of existing industries undertaking to have it registered in the prescribed manner. Section 10 requires registration. Section 11 prohibits every person from establishing a new industrial undertaking expect under a licence issued by the Central
Government. Section 11A makes it obligatory on every owner of industrial undertaking to obtain a licence for producing or manufacturing a new article. Similar provisions are contained in section 13.

Section 24A punishable false statements.

18G

Section 18G gives powers to the Central Government to control supply, distribution and prices of certain articles.

8. The Tea Act, 1953.

3

The section makes the breach of the provision of section 18(i) & (ii) punishable as if it were an offence under the Customs Act. Section 18 provides that no consignment of tea shall be exported except under a licence by the Central Government or the Tea Board.

9. The Coir Industry Act, 1953.

20

The section makes contravention of the provision of section 12 punishable with fine which may extend to Rs. 500. Section 12 prohibits the export of coir fibre, coir yarn and coir products except under a licence issued by or on behalf of the Coir Board.

10. Foreign Exchange Regulation Act, 1947

23

The section makes a person contravening the provision of section 4, 5, 9 or sub-section (2) of section 12 or of any rule, order, direction made therein, liable to penalty not exceeding three times the value of the foreign exchange in respect of which contravention has taken place, or Rs. 5,000 whichever is more, as also punishable upon conviction with imprisonment for a term which may extend to two years, or with fine, or with both. Contravention of provisions of section 19 is punishable with imprisonment for a term which may extend to two years, or with fine, or with both. Section 4 places restriction on persons resident in India on dealing in foreign exchange, Section 5,Inter alia, places restrictions on persons resident in India from making any payment to or for the credit of any persons resident outside India.

Section 9 empowers the Central Government to purchase any foreign exchange in the possession of any person resident in India at a price fixed by the Government itself.

Section 19 empowers the Central Government to direct owners of foreign exchange or foreign securities to make a return thereof to the Reserve Bank within such a period as may be specified. The Central Government or the Reserve Bank may also require any such person to furnish to the Government or the Bank any information, book or other document as may be required by the order to be so produced or furnished.

11. The Oilfields (Regulation & Development ) Act, 1948.

9

Section 9 provides, that the contravention of any rule made under the provisions of the Act. Shall be punishable with imprisonment which may extend to six months, or with fine which may extend to one thousand rupees, or with both.

Section 5 empowers the Central Government to make rules for regulating the grant of mining leases, or for prohibiting the grant of such leases, in respect of any mineral oil or any area.

Section 6 empowers the Central Government to make rules for the conservation and development of mineral oils, and, inter alia, for regulating drilling, re-drilling, deepening, plugging and abandoning of oil wells, and for the limitation or prohibition of such operations, and for taking of remedial measures to prevent waste of or damage to oil.

12. The Reserve Bank of India Act, 1934.

32

The section makes contravention of provision of section 31 as punishable with fine which may extend to the amount of the bill, hundi, pronote or engagement in respect whereof the offence is committed. Section 31 prohibits any person in India from drawing, accepting or making or issuing any bill of exchange in the promissory note or engagement for the payment of money, payable to bearer on demand

13. Forward Contracts (Regulation) Act, 1953

20

The section, inter (ilia, penalises the person who is a member of any association, other than a recognized association to which a certificate of registration has not been granted under the Act. The penalty provided for the offence is with imprisonment which may extend to one year, or with fine of not less than Rs. 1,000 or with both.

14. Mines & Minerals (Regulation & Development) Act, 1957.

21

This section makes contravention of provisions of sub-section (1) of Development) Act, 1957 section 4 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.

Section 4(1) prohibits any person from undertaking any prospecting any mining operation in any area, except under or in accordance with the terms and conditions of a prospecting licence, or mining licence granted under the Act.

15. Security Contracts (Regulation) Act, 1956.

23

The section makes it an offence for a person to own or keep a place other than a recognised stock exchange for use for the purposes of entering into any contracts in contravention of the provisions of the Act. It further provides penalties for entering into any contract in contravention or the provisions of sections 13, 16, 17 and 19, and for canvassing or advertising for any business connected with contracts without being a member of a recognised stock exchange.

13

Section 13 empowers the Central Government to notify that contracts other than between members of a recognized stock exchange, shall be illegal in any area to which the said notification may apply. Section 16 empowers the Government to prohibit contracts to prevent undesirable speculation in specified securities. Section 17 empowers the Government to make it obligatory on persons in areas that may be specified to take a licence for dealing in securities.

19

Section 19 prohibits persons from being members of any stock exchange other than a recognised one for the purposes of assisting in, entering into/ or performing contracts in securities.