23H. Penalty for contravention where no separate penalty has been provided
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 [liable to a penalty which shall not be less than one lakh rupees but which may extend to one crore rupees].
Amendment notes (2)
- Ins w.e.f. 12-10-2004 . Ins. by Act 1 of 2005, s. 11 (w.e.f. 12-10-2004).
- Subs w.e.f. 8-9-2014 . 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).