Section 32. Penalty and procedure

(1) Whoever -- (a) Acts, or holds himself out, as a licensed warehouseman without having obtained a licence under this Act, or (b) Knowingly, contravenes or fails to comply with any of the provisions or requirements of this Act or the rules, Shall be punishable with imprisonment for a term which may extend to one year or with fine which may extend to one thousand rupees or with both. (2) Where a person committing an offence under sub-section (1) is a company or an association or a body of persons, whether in- corporated or not, the Manager, Secretary, agent or other principal officer, managing the affairs of such company, association or body, shall be deemed to be guilty of such offence.