(4)If a reporting entity referred to in section 511 provides inaccurate information in the report furnished under sub-section (2) of the said section, the prescribed authority under that section may impose on such entity, a penalty of ₹500000, if—(a)the entity has knowledge of the inaccuracy at the time of furnishing the report but fails to inform the prescribed authority; or(b)the entity discovers the inaccuracy after the report is furnished and fails to inform the prescribed authority and furnish correct report within fifteen days of such discovery; or(c)the entity furnishes inaccurate information or document in response to the notice issued under section 511(7).
