Amendment status not verified — confirm the current text below against the official source.
Default in Repayment of deposits and interests honoring the commitment :- Notwithstanding anything contained in section 3, where any Financial Establishment defaults the return of the deposit or defaults the payment of interest on the deposit or fails to return in any kind or fails to render service for which the deposit have been made, every person responsible for the management of the affairs of the Financial Establishment shall be punished with imprisonment for a term which may extend to ten years and with the fine which may extend to one lakh rupees and such Financial Establishment is also liable for a fine which may extend to two lakh rupees.