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.
Section 22: Punishment for contravention of section 4.
The Banning of Unregulated Deposit Schemes Act, 2019Central Act · Act 21 of 2019
Where this provision sits
| Act | The Banning of Unregulated Deposit Schemes Act, 2019 |
|---|---|
| Section | 22 |
| Marginal note | Punishment for contravention of section 4. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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