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Section 24 - Banning of Unregulated Deposit Schemes Act, 2019
24. Punishment for repeat offenders.-
Whoever having been previously convicted of an offence punishable under this Chapter, except the offence under section 26, is subsequently convicted of an offence shall be punishable with imprisonment for a term which shall not be less than five years but which may extend to ten years and with fine which shall not be less than ten lakh rupees but which may extend to fifty crore rupees.
Related Sections
- Section 6: Certain scheme to be Unregulated Deposit Scheme
- Section 12: Priority of depositors' claim
- Section 43: Power to remove difficulties
- Section 32: Application of Code of Criminal Procedure, 1973 to proceedings before Designated Court
- Section 5: Wrongful inducement in relation to Unregulated Deposit Schemes
Related Acts
* Only for reference.