Section 26
Punishment for contravention of section 10.
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 fails to give the intimation required
under sub-section (1) of section 10 or fails to furnish any such statements, information or particulars
as required under sub-section (2) of that section, shall be punishable with fine which may extend to
five lakh rupees.