(1)

Any promoter who, without reasonable excuse, fails to comply with or contravenes, the provisions of section 3, 4, 5 [save as provided in sub-section (2) of this section], 10 or 11 shall, on conviction, be punished with imprisonment for a term which may extend to three years or with fine, or with both.

(2)

Any 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 five years, or with fine, or with both.

(3)

Any promoter who, without reasonable excuse, fails to comply with or, contravenes, any other provision of this Act or of any rule made thereunder, shall, if no other penalty is expressly provided for the offence, be punished, on conviction, [with imprisonment for a term which shall not be less than six months but which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to fifty thousand rupees or with both.] [These words were substituted for the words 'with an imprisonment for a term which may extend to one year or with fine which may extend to ten thousand rupees or with both]

(4)

[ When any promoter is convicted of any offence under this Act, except offence under Section 12A, such promoter shall be disqualified from undertaking construction of flats for a period of five years from the date of such conviction. However, such disqualification shall not affect the permission for construction of flats already granted before incurring such disqualification and shall also not debar the promoter from seeking or being granted any additional requisite permissions which may be required from the concerned local authorities for completion of constructions already undertaken by him.

(5)

The Competent Authority shall, on such conviction of a promoter under this Act, subject to the orders of the appellate court, if any, or after the 'expiry of the appeal period, forward the name of the convicted promoter to the local authorities under his jurisdiction, with a direction that such promoter shall not be granted permission under the' relevant law for undertaking any construction of flats during the period of such disqualification, specifically mentioning such period.

(6)

On receiving such intimation from the Competent Authority, notwithstanding anything contained in any other law for the time being in force, the concerned local authority shall not grant such promoter any permission or licence under the relevant law for construction of flats for a period for which the promoter is so disqualified.] [Sub-sections (4), (5) & (6) added by Maharashtra 4 of 2008, (w.e.f. 25-2-2008), Section 7(b).]]