(1) Without prejudice to the provisions of section 44, if any person, being a party to a combination—
- fails to furnish, within the time specified by the Commission, any information or document required by the Commission under this Act; or
- furnishes any information or document which he knows or has reason to believe to be false in any material particular; or
- omits to state any material fact knowing it to be material; or
- wilfully alters, suppresses or destroys any document which is required to be furnished as aforesaid,
the Commission may impose on any such person a penalty as it deems fit which may extend to rupees one crore.
(2) Without prejudice to the provisions of sub-section (1), the Commission may also pass such other order as it deems fit.