Citing the relevant provisions, enumerate the penalty amount, which will be payable under the Securities Exchange Board of India (SEBI) Act, 1992, for insider trading under section 15G, if any insider who counsels, or pr

Penalty for insider trading Section 15G under SEBI Act, 1992: If any insider who,- either on his own behalf or on behalf of any other person, deals in securities of a body corporate listed on any stock exchange on the basis of any unpublished price-sensitive information; or communicates any unpublished price-sensitive information to any person, with or without his request for such information except as required in the ordinary course of business or under any law; or counsels, or procures for any other person to deal in any securities of anybody corporate on the basis of unpublished price-sensitive information, shall be liable to a penalty which shall not be less than ₹10 lakh but which may extend to ₹25 crore or three times the amount of profits made out of insider trading, whichever is higher. In the instant case, as per (iii) above maximum penalty payable in this case will be three times the amount of profits made out of insider trading i.e., 3 times of ₹10 crore = ₹30 crore.