Penalty 58 G - for contraventions by NBFC

Question 1

contravention or default of the nature referred to in section 58B is committed by a non-banking financial company

Answer 1

upto 25 Lakhs

Question 2

Contravention of 45 IA, chapter III B or 45 J by NBFC

Answer 2

upto 10 lakhs or twice the amount involved in such contravention or default, where the amount is quantifiable, whichever is more; and where such contravention or default is a continuing one, further penalty which may extend to one lakh rupees for every day,