23J. Factors to be taken into account by the adjudicating officer
23J. [Factors to be taken into account while adjudging quantum of penalty.]—While adjudging the quantum of penalty under [section 12A or section 23-I], [the Securities and Exchange Board of India or the adjudicating officer] shall have due regard to the following factors, namely:—
(a)
the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b)
the amount of loss caused to an investor or group of investors as a result of the default;
(c)
the repetitive nature of the default.
Amendment notes (3)
- Subs w.e.f. 8-3-2019 . Subs. by Act 13 of 2019, s. 154, for "Factors to be taken into account by adjudicating officer" (w.e.f. 8-3-2019).
- Subs w.e.f. 8-3-2019 . Subs. by s. 154, ibid., for "section 23-I" (w.e.f. 8-3-2019).
- Subs w.e.f. 8-3-2019 . Subs. by s. 154, ibid., for "the adjudicating officer" (w.e.f. 8-3-2019).