Section 25(b) in The Forward Contracts (Regulation) Act, 1952
(b)to file any return or furnish any information, books or other documents within the time specified therefore in the regulations, fails to file or furnish the same within the time specified therefore in the regulations, he shall be liable to pay a penalty not exceeding five thousand rupees for each day during which such failure continues or five lakh rupees, whichever is less;
