As per section 44 of the Competition Law, what is the penalty for making false statements or omission to furnish material information by any party?

A. Minimum penalty of Rs. 50 lakhs and Maximum up to Rs. 1 crore

B. Minimum penalty of Rs. 25 lakhs and Maximum up to Rs. 1 crore

C. Minimum penalty of Rs. 10 lakhs and Maximum up to Rs. 50 lakhs

D. Minimum penalty of Rs. 5 lakhs and Maximum up to Rs. 50 lakhs

E. Minimum penalty of Rs. 5 lakhs and Maximum up to Rs. 25 lakhs

Answer: Option A