Section 49(3)(b) in The National Housing Bank Act, 1987

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Union of India - Subsection

Section 49(3)(b) in The National Housing Bank Act, 1987

(b)issues any prospectus or advertisement otherwise than in accordance with section 35 or any order made under section 30, as the case may be, he shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine which may extend,-

(i)in the case of a contravention falling under clause (a), to twice the amount of deposit received; and

(ii)in the case of a contravention falling under clause (b), to twice the amount of the deposit called for by the prospectus or advertisement.

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Union of India - Subsection

Section 49(3)(b) in The National Housing Bank Act, 1987