Substitution of section 52A.

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..... d in section 49, if the contravention or default of the nature referred to in the said section is committed by a housing finance institution which is a company, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such company- (a) a penalty not exceeding five thousand rupees; or (b) where the contravention or default is under sub-section (2A) or clause (a) or clause (a .....

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..... institution. (3) Any penalty imposed by the National Housing Bank or the Reserve Bank, as the case may be, under this section shall be payable within a period of thirty days from the date on which notice issued by the National Housing Bank or the Reserve Bank, as the case may be, demanding payment of the sum is served on the housing finance institution which is a company and, in the event of failu .....

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..... e filed against any housing finance institution which is a company in any court of law pertaining to any contravention or default in respect of which any penalty has been imposed by the National Housing Bank or the Reserve Bank, as the case may be, under this section. (6) Where any complaint has been filed against a housing finance institution which is a company in a court in respect of contravent .....

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