business name or otherwise:
Provided that(i)
the defaulter may apply to the court for relief against the
disability imposed by this section, and the court, on being satisfied that
the default was accidental, or due to inadvertence, or some other
sufficient cause or that on other grounds it is just and equitable to grant
relief, may grant such relief either generally, or as respects any
particular contract, on condition of the costs of the application being
paid by the defaulter, unless the court otherwise orders, and on such
other conditions (if any) as the court may impose, but such relief shall
not be granted except on such service and such publication of notice of
the application as the court may order, nor shall relief be given in respect
of any contract if any party to the contract proves to the satisfaction of
the court that, if this Act had been complied with, he would not have
entered into the contract;
(ii)
nothing herein contained shall prejudice the rights of any other
parties as against the defaulter in respect of such contract as aforesaid;
(iii)
if any action or proceeding shall be commenced by any other
party against the defaulter to enforce the rights of such party in respect
of such contract, nothing herein contained shall preclude the defaulter
from enforcing in that action or proceeding, by way of counter-claim,
set-off or otherwise, such rights as he may have against that party in
respect of such contract.
(2) In this section, "court" means the High Court or a Judge thereof:
Provided that, without prejudice to the power of the High Court or a
Judge thereof to grant such relief as aforesaid, if any proceeding to
enforce any contract is commenced by a defaulter in a subordinate court,
the subordinate court may, as respects that contract, grant such relief as
aforesaid.
11. If any statement required to be furnished under this Act contains Penalty for false
any matter which is false in any material particular to the knowledge of statements
any person signing it, that person shall, on conviction, be liable to
imprisonment with or without hard labour for a term not exceeding three
months, or to a fine not exceeding one thousand five hundred penalty