What are the penalties for contravention of Foreign Direct Investment Regulations ?

If a person violates/contravenes any Foreign Direct Investment Regulations, by way of breach/non-adherence/non-compliance/contravention of any rule, regulation, notification, press note, press release, circular, direction or order issued in exercise of the powers under Foreign Exchange Management Act, 1999 or contravenes any conditions subject to which an authorization is issued by the Government of India/ Reserve Bank of India, he shall, upon adjudication, be liable to a penalty up to thrice the sum involved in such contraventions where such amount is quantifiable, or up to two lakh where the amount is not quantifiable, and where such contraventions is a continuing one, further penalty may extend to five thousand Rupees for every day after the first day during which the contraventions continues. Where a person committing a contravention of any provisions of this Act or of any rule, direction or order made there under is a company (company means any, body corporate and includes a firm or other individuals as defined in the Companies Act), every person who, at the time the contravention was committed, was in charge of, and was responsible to, the company for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly. Any Adjudicating Authority adjudging any contraventions stated above, may, if he thinks fit in addition to any penalty which he may impose for such contravention direct that any currency, security or any other property in respect of which the contravention has taken place shall be confiscated to the Central Government.