Where a registered person fails to produce the record on receipt of 3rd notice in non-compliance with section 25, such person shall pay a penalty of:

A. Rs. 5,000/-

B. Rs. 10,00/-

C. Rs. 50,000/-

D. Rs. 30,000/-

Detail:

Where a registered person who, without any reasonable cause, in non compliance with the provisions of section 25,—

(a) fails to produce the record on receipt of first notice; such person shall pay a penalty of five thousand rupees. 

(b) fails to produce the record on receipt of second notice; such person shall pay a penalty of ten thousand rupees.

(c) fails to produce the record on receipt of third notice; such person shall pay a penalty of fifty thousand rupees. 


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