271BB Failure to subscribe to the eligible issue of capital

[Failure to subscribe to the eligible issue of capital.

271BB. Whoever fails to subscribe any amount of subscription to the units issued under any scheme referred to in sub-section (1) of section 88A to the eligible issue of capital under that sub-section within the period of six months specified therein, may be directed by the [Joint] Commissioner to pay, by way of penalty, a sum equal to twenty per cent of such amount.]