Law · Securities Contracts (Regulation) Act, 1956
The penalty for failing to furnish information, documents, or returns under Section 23A of the Securities Contracts (Regulation) Act, 1956 is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only a warning issued by SEBI
- 2Imprisonment up to 1 year
- 3A fixed penalty of ₹5 lakh only
- 4A penalty which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees✓
Correct answer
A penalty which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees
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