Section 44. Penalty for making false statement or omission to furnish material information

44. Penalty for making false statement or omission to furnish material information .—If any person, being a party to a combination,— (a) makes a statement which is false in any material particular, or knowing it to be false; or - (b) omits to state any material particular knowing it to be material, such person shall be liable to a penalty which shall not be less than rupees fifty lakhs but which may extend to[6] [rupees five crore], as may be determined by the Commission.