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Section 22 - Banning of Unregulated Deposit Schemes Act, 2019
22. Punishment for contravention of section 4.-
Any deposit taker who contravenes the provisions of section 4 shall be punishable with imprisonment for a term which may extend to seven years, or with fine which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of the fraudulent default referred to in said section, whichever is higher, or with both.
Related Sections
- Section 31: Power to enter, search and seize without warran
- Section 28: Offences to be cognizable and non-bailable
- Section 1: Short title, extent and commencement
- Section 32: Application of Code of Criminal Procedure, 1973 to proceedings before Designated Court
- Section 24: Punishment for repeat offenders
Related Acts
* Only for reference.