As soon as a minimum number of persons required to form a Co-operative Society or a company have taken Apartment(Flat), the promoter shall within the prescribed period submit an application to the Registrar for registration of the organization of persons who take the Apartment(Flats) as a Co-operative Society, or as the case may be, as a company; and the promoter shall join, in respect of the Apartment(Flats) which have not been taken, in such application for membership of a Cooperative Society or as the case may be, of a company.
>kj[k.M xtV ¼vlk/kkj.k½] o`gLifrokj 2 Qjojh] 2012 37
17. Offences by Promoter-
(1) Any promoter who knowingly makes a false disclosure in respect of any of the matters referred to in clauses (a), (b), (c), (g), (i) or (j) of Section (2) or contravenes the provisions of this Act shall, on conviction, be punished with imprisonment for a term which may extend to one year or with fine which may extend to two thousand rupees, or with both.
(2) a promoter who commits criminal breach of trust of any amount advanced or deposited with him for the purposes mentioned in Section 10 shall, on conviction be punished with imprisonment for a term which may extend to four years, or with fine, or with both;
(3) A Promoter who constructs a building in violation of plans and specifications, approved by the Local Authority or RRDA Act notified by the Local Authority shall on conviction be punished with imprisonment for a term which may extend to ten years or with fine, or with both;