Section 10(1) in The Bist Industrial Corporation, Limited (Acquisition of Undertaking) Act, 1970
(1)Any person who-(a)having in his possession, custody or control any property forming part of the undertaking of the Company, withholds such property from the Collector in contravention of the provisions of Section 5; or(b)wrongfully obtains possession of any property forming part of the undertaking of the Company which has vested in the State Government under this Act; or(c)wilfully withholds or fails to deliver to the Collector any document which may be in his possession, custody or control and which he is required to deliver under Section 5; or(d)wilfully fails to furnish an inventory as required by Section 6; or(e)when required to furnish such inventory, furnishes any particulars therein which are false and which he either knows or believes to be false or does not believe to be true shall be punishable with imprisonment for a term which may extend to three years, or with fine, or with both.
