Section 22. Punishment for contravention of section 4

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Act: Banning of Unregulated Deposit Schemes Act, 2019
Section number: 22

Section reader

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.