(4)Where a reporting entity referred to in section 286 provides inaccurate information in the report furnished in accordance with sub-section (2) of the said section and where—(a)the entity has knowledge of the inaccuracy at the time of furnishing the report but fails to inform the prescribed authority; or(b)the entity discovers the inaccuracy after the report is furnished and fails to inform the prescribed authority and furnish correct report within a period of fifteen days of such discovery; or(c)the entity furnishes inaccurate information or document in response to the notice issued under sub-section (6) of section 286,then, the prescribed authority may direct that such person shall pay, by way of penalty, a sum of five lakh rupees.
