53.  Composition of offence.- (1) A market committee or its sub-committee may accept from any person who is alleged to have committed an offence punishable under this Act or Rules or Byelaws made thereunder in addition to the fees or other amount so recoverable, a sum of money not exceeding rupees [1][five thousand] by way of composition for such offence. 

(2)  On composition  of any offence under sub-section (1) , no proceedings shall be taken or continued against the person concerned in respect of such offence and if any proceedings if   in respect of the offence have already been instituted against him in any Court the composition shall have the effect of his acquittal.]

⁴⁶