Section 23A:
Penalty for failure to furnish information, return, etc.
1[23A. Penalty for failure to furnish information, return, etc.--Any person, who is required under
this Act or any rules made thereunder,--
(a) to furnish any information, document, books, returns or 2[report to a recognised stock
exchange or to the Board, fails to furnish the same within the time specified therefor in the listing
agreement or conditions or bye-laws of the recognised stock exchange or the Act or rules made
thereunder, or who furnishes] 3[false, incorrect or incomplete information, document, books, return or
report], shall be liable to a penalty 4[which shall not be less than one lakh rupees but which may
extend to one lakh rupees for each during which such failure continues subject to a maximum of one
crore rupees], whichever is less for each such failure;
(b) to maintain books of account or records, as per the listing agreement or conditions, or
bye-laws of a recognised stock exchange, fails to maintain the same, shall be liable to a
penalty 1[which shall not be less than one lakh rupees but which may extend to one lakh rupees for
each day during which such failure continues subject to a maximum of one crore rupees].]
Notes:
1. Ins. by Act 1 of 2005, s. 11 (w.e.f. 12-10-2004).
2. Subs. by Act 23 of 2019, s. 146, for certain words (w.e.f. 20-1-2020).
3. Ins. by Act 13 of 2018, s. 149 (w.e.f. 8-3-2019).
4. Subs. by Act 27 of 2014, s. 25, for "of one lakh rupees for each day during which such failure continues or one crore rupees,
whichever is less" (w.e.f. 8-9-2014).