² [19A. Penalty for failure to furnish information, return, etc.—Any person, who is required under this Act or any rules or regulations or bye-laws made thereunder,—
(a) to furnish any information, document, books, returns or report to the Board, fails to furnish the same within the time specified therefor ³ [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents], he shall be liable to a penalty ⁴ [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees] for each such failure;
(b) to file any return or furnish any information, books or other documents within the time specified therefor in the regulations or bye-laws, fails to file return or furnish the same within the time specified therefor, he ³ [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents] shall be liable to a penalty ¹ [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees];
(c) to maintain books of account or records, fails to maintain the same, he shall be liable to a penalty ¹ [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees].

1. Ins. by Act 13 of 2018, s. 192 (w.e.f. 8-3-2019).
2. Ins. by Act 1 of 2005, s. 17 (w.e.f. 12-10-2004).
3. Ins. by Act 13 of 2018, s. 193 (w.e.f. 8-3-2019).
4. Subs. by Act 27 of 2014, s. 42, for certain words (w.e.f. 8-9-2014).