What are the penalties/punishments for the following ? Penalty for contravention under the Securities Contracts (Regulation) Act, 1956 where no separate penalty has been provided.
CS Professional · Resolution of Corporate Disputes, Non-Compliances & Remedies · PYQS · June 2023
What are the penalties/punishments for the following ? Penalty for contravention under the Securities Contracts (Regulation) Act, 1956 where no separate penalty has been provided.
Answer & Explanation:
Penalty for contravention under the Securities Contracts (Regulation) Act, 1956 where no separate penalty has been provided: Whoever fails to comply with any provision of this Securities Contracts (Regulation) Act, 1956, 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 ₹ 1 lakh but which may extend to ₹ 1 crore .
Topics: Securities Contracts (Regulation) Act (SCRA)
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