Section 55(1) in The M.P. Swayatta Sahakarita Adhiniyam, 1999
(1)A person who makes or assists in making a report, return, notice or other document required by this Act to be sent to the Registrar or to any other person that-(a)contains an untrue statement of a material fact; or(b)omits to state a material fact required in the report or necessary to make a statement contained in the report not misleading in the light of the circumstances in which it was made, shall be guilty of an offence and shall on summary conviction, be punishable-(i)in the case of an individual, with a fine which may extend to rupees [ten thousand] [Substituted for 'one thousand' by M.P. Act No. 16 of 2010.] or with imprisonment for a term which may extend to three months or with both;(ii)in the case of a person other than an individual, with a fine which may extend to rupees ten thousand.
