Section 50. Penalty for contravening provisions of section 40 or 43

If any officer, servant or member of a Market Committee, when required to furnish information in regard to the affairs or proceedings of a Market Committee under section 40 or section 43-

(a) wilfully neglects or refuses to furnish any information, or

(b) wilfully furnishes false information,

he shall, on conviction, be punished with fine which may extend to five hundred rupees.