271E Penalty for failure to comply with the provisions of section 269T

[Penalty for failure to comply with the provisions of section 269T.

271E. [(1)] If a person repays any [loan or] deposit  “or specified advance” referred to in section 269T otherwise than in accordance with the provisions of that section, he shall be liable to pay, by way of penalty, a sum equal to the amount of the [loan or] deposit “or specified advance” so repaid.]

[(2) Any penalty imposable under sub-section (1) shall be imposed by the [Joint] Commissioner.]