Section 20(e) in Forward Contracts (Regulation) Act, 1952
(e)enters into any forward contract or any option in goods in contravention of any of the provisions contained in sub-section (1) or sub-section (3-A) or sub- section (4) of Section 15, Section 17 or Section 19; shall on conviction be punishable ---(i)for a first offence, with imprisonment which may extend to one year or with a fine of not less than one thousand rupees, or with both;(ii)for a second or subsequent offence under clause (d), or under clause (e) other than an offence in respect of contravention of the provisions of sub-section (4) of Section 15 with imprisonment which may extend to one year and also with fine; provided that in the absence of special and adequate reasons to the contrary to be mentioned in the judgement of the Court, the imprisonment shall be not less than one month and the fine shall not be less than one thousand rupees.
