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.