Section 7(1) in The Parel Investments and Trading Private Limited and Domestic Gas Private Limited (Taking Over of Management) Act, 1979
(1)Any person, who –(a)having in his possession,custody or control any property forming part of the undertaking of any of thetwo companies, wrongfully; withholds such property from the Custodian or anyperson authorised under this Act for the purpose, or(b)wrongfullyobtains possession of any such property, or(c)wilfullyand without lawful excuse, retains any property of the undertaking of any ofthe two companies or removes or destroys it, or(d)wilfully; withholds orfails to deliver any books, papers or other documents which may be in hispossession or under his control to the Custodian or any person authorised underthis Act for the purpose, or(e)fails,without reasonable cause, to furnish information or particulars as provided insub–section (7) of section 4, shall be punishable with imprisonment fora term which may extend to shall be punishable with imprisonment for a termwhich may extend to two years, or with fine which may extend to ten thousandrupees, or with both.
