Section 24
Punishment for repeat offenders.
The Banning of Unregulated Deposit Schemes Act, 2019
About this Act
An Act to provide for a comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors and for matters connected therewith or incidental thereto.
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.