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The Depositories Act, 1996

Section 19-IFactors to be taken into account by adjudicating officer

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Section 19-I: Factors to be taken into account by adjudicating officer

19-I. Factors to be taken into account by adjudicating officer

19-I. [Factors to be taken into account while adjudging quantum of penalty].—While adjudging adjudging the quantum of penalty under [section 19 or section 19H, the Board 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.

[Explanation.—For the removal of doubts, it is clarified that the power of *** to adjudge the quantum of penalty under sections 19A to 19F shall be and shall always be deemed to have been exercised under the provisions of this section.]

Amendment notes (4)
  1. Subs w.e.f. 8-3-2019 . Subs. by Act 13 of 2018, s. 196, for "Factors to be taken into account by adjudicating officer" (w.e.f. 8-3-2019).
  2. Subs w.e.f. 8-3-2019 . Subs. by s. 196, ibid., for "section 19H, the adjudicating officer" (w.e.f. 8-3-2019).
  3. Ins . Ins. by Act 7 of 2017, s. 149 (31-3-2017).
  4. omitted w.e.f. 8-3-2019 The words "of an adjudicating officer" omitted by Act 13 of 2018, s. 196 (w.e.f. 8-3-2019).