Section 30A(2) in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
(2)For the purpose of imposing penalty under sub-section (1), the adjudicating authority shall serve a notice on the asset reconstruction company or the person in default requiring such company or person to show cause why the amount specified in the notice should not be imposed as a penalty and a reasonable opportunity of being heard shall be given to such person.
