Penalties

Whoever contravenes the provisions of this Act or the rules or orders made thereunder, shall, on conviction, be punishable with imprisonment for a term which shall not be less than three years but which shall not exceed seven years and with fine which may extend to five thousand rupees. Where the conviction is for an offence under section 3 or section 5, the institution or the person convicted thereunder shall refund the money so collected in excess to the party from whom it was collected.

which may extend to five thousand rupees. Where the conviction is for an offence under section 3 or section 5, the institution or the person convicted thereunder shall refund the money so collected in excess to the party from whom it was collected.