Amendment status not verified — confirm the current text below against the official source.
(1) Any promoter or other person who on demand by the authorized officer fails to produce any records or furnish any information in accordance with the requirements of this Act, shall be liable to a penalty of ten thousand rupees and, in addition, two thousand rupees per day for the failure so as long as the failure continues; Provided that no penalty shall be imposed unless an opportunity to show cause against such penalty is given.