Substitution of section 52A.

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....tanding anything contained in section 49, if the contravention or default of the nature referred to in the said section is committed by a housing finance institution which is a company, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such company- (a) a penalty not exceeding five thousand rupees; or (b) where the contravention or default is under ....

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....g heard shall also be given to such housing finance institution. (3) Any penalty imposed by the National Housing Bank or the Reserve Bank, as the case may be, under this section shall be payable within a period of thirty days from the date on which notice issued by the National Housing Bank or the Reserve Bank, as the case may be, demanding payment of the sum is served on the housing fina....