Section 5

. Subs. by Act 59 of 2002, s. 12, for "a penalty not exceeding ten thousand rupees for each day during which he carries on any such collective investment scheme including mutual funds, or ten lakh rupees, whichever is higher" (w.e.f. 29-10-2002).

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5 . Subs. by Act 59 of 2002, s. 12, for "a penalty not exceeding ten thousand rupees for each day during which he carries on any such collective investment scheme including mutual funds, or ten lakh rupees, whichever is higher" (w.e.f. 29-10-2002).