Section 15HA
Penalty for fraudulent and unfair trade practices.
The Securities and Exchange Board of India Act, 1992
About this Act
An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
1[15HA. Penalty for fraudulent and unfair trade practices.--If any person indulges in fraudulent
and unfair trade practices relating to securities, he shall be liable to a penalty 2[which shall not be less
than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of
profits made out of such practices, whichever is higher].]
Notes
1. Ins. by Act 59 of 2002, s. 17 (w.e.f. 29-10-2002).
2. Subs. by Act 27 of 2014, s. 14, for certain words (w.e.f. 8-2-2014). br
2. Subs. by Act 27 of 2014, s. 14, for certain words (w.e.f. 8-2-2014). br