Penalty for contravention of section 369, 370 or 370A.

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..... erson to whom the loan is made, or in whose interest the guarantee is given or the security is provided, shall be punishable with fine which may extend to [4] [fifty thousand rupees] or with simple imprisonment for a term which may extend to six months: Provided that where any such loan, or any loan in connection with which any such guarantee or security has been given or provided by the le .....

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..... Act 65 of 1960, section 137, for "section 369 or 370". [3] The words and figures "section 369 or" omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [4] Substituted for "five thousand rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - t .....

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