Section 8 in The General Insurance (Emergency Provisions) Act, 1971
8. Penalties. If any person--
(a)fails to deliver to the Custodian any books of account, registers or any other documents in his custody relating to the undertaking of an insurer in respect of the management of which the Custodian has been appointed, or(b)retains any property of such insurer appertaining to the undertaking of the insurer, or(c)fails to comply with the provisions contained in sub- section (3) or sub- section (5) or sub- section (6) of section 3, or(d)fails to comply with any directions issued under sub- section (1) or sub- section (7) of section 3, he shall be 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.
