Section 58
Penalty
1) Anyone, knowingly, if mentions or causes to mention false statement in any particulars or certificate or in any receipt or any other document of collateral provided to the Trust for the purpose of the Trust’s investment or loan or other facility provided by the Trust pursuant to this Act and if the Trust suffers any loss, such person shall be liable to compensate such loss and be fined up to Five Thousand Rupees or be imprisoned not exceeding One year or the both.
(2) In case anyone violates confidentiality pursuant to Section 54, shall be liable to pay a fine up to Three Thousand Rupees or be imprisoned up to Three months or the both.
(3) In case anyone hinders or obstructs the Inspector appointed pursuant to Section 50 while doing his/her functions of inspection or without any appropriate reason does not provide document for inquiry, such person shall be subject to a fine upto Two Thousand Rupees or imprisonment up to Two months or the both.
(4) In case anyone publishes name of the Trust in any prospectus or advertisement without obtaining written approval of the Trust, shall be subject to a fine up to One Thousand Rupees or imprisonment up to One month or the both.
(2) In case anyone violates confidentiality pursuant to Section 54, shall be liable to pay a fine up to Three Thousand Rupees or be imprisoned up to Three months or the both.
(3) In case anyone hinders or obstructs the Inspector appointed pursuant to Section 50 while doing his/her functions of inspection or without any appropriate reason does not provide document for inquiry, such person shall be subject to a fine upto Two Thousand Rupees or imprisonment up to Two months or the both.
(4) In case anyone publishes name of the Trust in any prospectus or advertisement without obtaining written approval of the Trust, shall be subject to a fine up to One Thousand Rupees or imprisonment up to One month or the both.