PROHIBITION OF MANIPULATIVE AND DECEPTIVE DEVICES, INSIDER TRADING AND SUBSTANTIAL ACQUISITION OF SECURITIES OR CONTROLSecurities and Exchange Board of India Act, 1992
PROHIBITION OF MANIPULATIVE AND DECEPTIVE DEVICES, INSIDER TRADING AND SUBSTANTIAL ACQUISITION OF SECURITIES OR CONTROLSecurities and Exchange Board of India Act, 1992
Penalty for default in regulated funds: noncompliance attracts daily fines up to a statutory cap or multiple of gains. Where a person fails to comply with Board regulations or directions in respect of alternative investment funds, infrastructure investment trusts and real ... Summary
Penalty for default in regulated funds: noncompliance attracts daily fines up to a statutory cap or multiple of gains.
Where a person fails to comply with Board regulations or directions in respect of alternative investment funds, infrastructure investment trusts and real estate investment trusts, the person shall be liable to a penalty not 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 or three times the amount of gains made out of such failure, whichever is higher.
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