Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Madhya Pradesh - Section

Section 26 in The M.P. State Aid to Industries Act, 1958

26. Penalty for breach.

(1)If any Director, Managing Agent, Manager, Secretary or other officer of any company or other body corporate to which State Aid has been given, commits a breach of any order passed or rule made under this Act subject to which such State Aid has been given or of any provision of this Act or any condition notified under Section 14, he shall be liable to a fine which may extend to one thousand rupees.
(2)No Court shall take cognizance of any offence punishable under sub-section (1) except on a complaint in writing by the Director.
(3)Any contract made on behalf of a company or other body corporate in contravention of any condition subject to which State Aid has been given to it shall as against such company or such body corporate be void; but nothing herein contained shall prejudice the right of any person affected by such contract to claim by due process of law, any relief to which he may be entitled against the person entering into such contract.