Section 79F: Non-compliance with directions
This section is inserted by The Finance Act 2025, section 10.
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
79F. Non-compliance with directions
(1) Any person to whom a direction is given under this Act shall
comply with the direction and where he fails to comply with the direction and a
time period is specified for compliance, the person shall commit a separate
offence for each day on which the direction is not complied with, after the time
period for compliance has elapsed, and shall, on conviction, in respect of each
offence, be liable to a fine of 5,000 rupees per day.
(2) Any person who knowingly hinders or prevents compliance with
a direction given under this Act shall commit an offence and shall, on
conviction, be liable to a fine not exceeding one million rupees and to
imprisonment for a term not exceeding 5 years.
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Questions this section answers
- What is the daily fine for not complying with a Registrar's direction to a credit union?