Insertion of new sections 15EA and 15EB.-Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts.-Penalty for default in case of investment adviser and research analyst.

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..... 5EA and 15EB. In the principal Act, after section 15E, the following sections shall be inserted, namely: Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts. 15EA. Where any person fails to comply with the regulations made by the Board in respect of alternative investment funds, infrastructure investment tru .....

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..... h such failure continues subject to a maximum of one crore rupees. . - Clause 179 of the Bill seeks to insert new sections 15EA and 15EB so as to provide for monetary penalty for failure to comply with the regulations or directions issued by the Board in case of alternative investment funds, infrastructure investment trusts, real estate investment trusts, investment advisers and research .....

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