Question
Under Section 29 of the SARFAESI Act, what is the
punishment for a person who contravenes or abets the contravention of any provision of the Act or rules thereunder?Solution
Section 29 of the SARFAESI Act provides that if any person contravenes or attempts to contravene or abets the contravention of the provisions of this Act or of any rules made thereunder, he shall be punishable with imprisonment for a term which may extend to one year, or with fine, or with both. This is the general penal provision of the Act. Section 30 further provides that no court shall take cognizance of any such offence except upon a complaint in writing made by an officer of the Central Registry or RBI. Also, no court inferior to a Metropolitan Magistrate or Judicial Magistrate of the First Class can try offences under the Act.
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Family influence belongs to:
A debit card mainly provides:
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A bank expanding into agricultural financing to meet regulatory lending norms is primarily responding to:
