Section 23H
Penalty for contravention where no separate penalty has been provided.
The Securities Contracts (Regulation) Act, 1956
About this Act
An Act to prevent undesirable transactions in securities by regulating the business of dealing therein, by providing for certain other matters connected therewith.
1[23H. Penalty for contravention where no separate penalty has been provided.--Whoever fails to
comply with any provision of this Act, the rules or articles or bye-laws or the regulations of the
recognised stock exchange or directions issued by the Securities and Exchange Board of India for which
no separate penalty has been provided, shall be 2[liable to a penalty which shall not be less than one lakh
rupees but which may extend to one crore rupees].
Notes
1. Ins. by Act 1 of 2005, s. 11 (w.e.f. 12-10-2004).
2. Subs. by Act 27 of 2014, s. 32, for “liable to a penalty not exceeding twenty-five crore rupess” (w.e.f. 8-9-2014).
2. Subs. by Act 27 of 2014, s. 32, for “liable to a penalty not exceeding twenty-five crore rupess” (w.e.f. 8-9-2014).