SEBI penalty power: allows monetary penalties following a prescribed inquiry process under securities contract regulation. Amendment designates existing section 12A as sub-section (1) and inserts sub-section (2) authorizing the Securities and Exchange Board of India, without prejudice to sub-section (1) and section 23-I, to levy monetary penalties under specified sections by order after holding an inquiry in the prescribed manner and recording reasons in writing.
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Provisions expressly mentioned in the judgment/order text.
SEBI penalty power: allows monetary penalties following a prescribed inquiry process under securities contract regulation.
Amendment designates existing section 12A as sub-section (1) and inserts sub-section (2) authorizing the Securities and Exchange Board of India, without prejudice to sub-section (1) and section 23-I, to levy monetary penalties under specified sections by order after holding an inquiry in the prescribed manner and recording reasons in writing.
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