Offences by promoter.

Any promoter who, without reasonable excuse, fails to comply with or contravenes any provision of Part I or of any rule made under this Part shall, where no other penalty is expressly provided for, on conviction, be punished with imprisonment for a term which may extend to one year, or with fine which may extend to two thousand rupees, or with both; and a promoter who commits criminal breach of trust of any amount advanced or deposited with him for the purposes mentioned in section 5 shall, on conviction, be punished with imprisonment for a term which may extend to four years, or with fine, or with both.