Amendment status not verified — confirm the current text below against the official source.
1 [103. Penalty for carrying on insurance business in contravention of section 3.-- If a person carries on the business of insurance without obtaining a certificate of registration under section 3, he shall be liable to a penalty not exceeding rupees twenty-five crores and with imprisonment which may extend to ten years.]
Amended up to 2019-03-25View on India Code →