Section 25 in The Forward Contracts (Regulation) Act, 1952
25. [ 21A Penalty for failure to furnish information, return, etc. —If any person, who is required under this Act or any rules or regulations made thereunder,—(a) to furnish any document, return or report to the Commission, fails to furnish the same, he shall be liable to a penalty of twenty thousand rupees for each day during which such failure continues or five lakh rupees, whichever is less;
(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;(c)to maintain books of account or records, fails to maintain the same, he shall be liable to a penalty of ten thousand rupees for each day during which such failure continues or five lakh rupees, whichever is less;(d)or who was in charge of, and was responsible to, an association for the conduct of the business of the association, obstructs any officer of the Commission or any other person authorised by it to conduct inspection or to discharge any other function assigned by the Commission, such person as well as the association shall be liable to pay a fine of rupees one lakh for every occasion of such obstruction.
