15. Penalties.— (1) Whoever contravenes the provisions of this Act or the rules made thereunder shall, on conviction be punishable with imprisonment for a term which shall not be less than one year but which may extend to three years and with fine which shall not be less than rupees fifty lakhs.
(2) A penalty under this section may be imposed without prejudice to the penalty specified in any other law for the time being in force.
