Section 23: Punishment for contravention of section 5

Q: What does Section 23 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) deal with?

Section 23 BUDS Act pertains to "Punishment for contravention of section 5". It is part of the The Banning of Unregulated Deposit Schemes Act, 2019, a legislation enacted by the Parliament of India. Section 23 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) prescribes punishment for contravention of section 5. As verified on 19 May 2026.

Q: Is Section 23 BUDS Act still in force?

Yes, Section 23 of the The Banning of Unregulated Deposit Schemes Act, 2019 is currently in force across the Republic of India.

Q: What is धारा 23 BUDS Act?

धारा 23 BUDS Act is the Devanagari Hindi reference for Section 23 of the The Banning of Unregulated Deposit Schemes Act, 2019. Section 23 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) prescribes punishment for contravention of section 5. As verified on 19 May 2026.

Q: What is Dhara 23 BUDS Act?

Dhara 23 BUDS Act is the Roman Hindi reference for Section 23 of the The Banning of Unregulated Deposit Schemes Act, 2019. "Dhara" means "Section" in Hindi. Section 23 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) prescribes punishment for contravention of section 5. As verified on 19 May 2026.

Q: How to cite Section 23 of The Banning of Unregulated Deposit Schemes Act, 2019?

Cite as: "Section 23, The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act)" in legal briefs. For academic writing, use the BlueBook format: The Banning of Unregulated Deposit Schemes Act, 2019, 2019, § 23 (India).

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Tuesday, 28 July 2026

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Table of Contents

The Banning of Unregulated Deposit Schemes Act, 2019

Chapter VIO — ffences and Punishments

Section 23

Punishment for contravention of section 5

- Any person who contravenes the provisions of section 5 shall be punishable with imprisonment for a term which shall not be less than one year but which may extend to five years and with fine which may extend to ten lakh rupees.