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?

A Imprisonment for a term extending to one year, or with fine, or with both
B Imprisonment for a term extending to three years, and with fine
C Fine only, up to Rs. 50 lakh
D Imprisonment for a term extending to seven years with fine
E Administrative penalty as determined by RBI not exceeding Rs. 1 crore
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