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Factoring Regulation Act, 2011


Chapter VI Offences and Penalties

21. Penalties.-

If a default is made in filing under section 19 the particulars of any transaction of assignment of receivables and realisation of receivables by a factor, such company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees for every day during which the default continues.



Factoring Regulation Act, 2011 Back




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