Section 27. Unqualified persons not to sign documents

27. Unqualified persons not to sign documents. —(1) No person other than a member of the Institute shall sign any document on behalf of cost accountant in practice or a firm of such cost accountants in his or its professional capacity. 3[(2) Any person who contravenes the provisions of sub-section (1) shall, without prejudice to any other proceedings which may be taken against him, be punishable on first conviction with a fine not less than[4] [one lakh rupees] but which may extend to[5] [five lakh rupees], and in the event of a second or subsequent conviction with imprisonment for a term which may extend to one year or with a fine not less than[6] [two lakh rupees] but which may extend to[7] [ten lakh rupees] or with both.]