Criminal liability for securities contravention imposes imprisonment or fines for failure to pay penalties or comply. Section 23M establishes criminal liability for contravention, attempted contravention, or abetment of the Securities Contracts (Regulation) Act or its ... Summary
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Criminal liability for securities contravention imposes imprisonment or fines for failure to pay penalties or comply.
Section 23M establishes criminal liability for contravention, attempted contravention, or abetment of the Securities Contracts (Regulation) Act or its subordinate instruments where no other punishment is provided, subjecting such conduct to imprisonment and/or substantial fines; it also penalises failure to pay an imposed penalty or to comply with a direction or order, linking administrative penalty processes to criminal sanctions.
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