Discuss the provisions of 'Penalty for making false statement' under Section 44 of the Competition Act, 2002?

Penalty for making false statement under Section 44 of the Competition Act, 2002 provides that if any person, being a party to a combination, makes a statement which is false in any material particular, or knowing it to be false, or omits to state any material particular knowing it to be material, such person shall be liable to penalty which shall not be less than rupees fifty lakhs but which may extend to rupees one crore, as may be determined by the Commission. Or Alternate Answer Penalty for making false statement under Section 44 of the Competition (Amendment) Act, 2023 provides that if any person, being a party to a combination, makes a statement which is false in any material particular, or knowing it to be false, or omits to state any material particular knowing it to be material, such person shall be liable to penalty which shall not be less than rupees fifty lakhs but which may extend to rupees five crore, as may be determined by the Commission.