27. Offences and penalties

where such person is not a body corporate, to a fine not less than one million and not more than ten million rupees or to imprisonment of either description for a term not exceeding seven years or to both such fine and imprisonment ;

where such person is a body corporate, to a fine not less than ten million and not more than hundred million rupees ; and

in either case, where the offence is a continuing offence, to an additional fine of five hundred thousand rupees for each day during which such contravention continues, and the court may in addition order such persons to refrain from carrying on those activities which are required to have been terminated, or to do such other acts as are required to be done, under the Commission’s earlier order for such period as may be determined by the court or until such person complies with such order made under that section.

if the body of persons is a body corporate, every director and officer of such body corporate ; and

if the body of persons is a firm, every partner of that firm, shall be guilty of an offence, provided that such director, officer or partner shall not be deemed to be guilty of that offence if he or she establishes to the satisfaction of the court that such offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.