THE FACTORING REGULATION ACT, 2011 · OFFENCES AND PENALTIES
Section 24 — Cognizance of offences
(1)No Court shall take cognizance of any offence punishable under this Act except upon a complaint in writing made by an officer of the Reserve Bank, generally or specially authorised in writing in this behalf by the Reserve Bank.
(2)No Court other than that of a Metropolitan Magistrate or a Judicial Magistrate of the first class or a court superior thereto shall try any such offence punishable under this Act.