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of <h1>SEBI Act Section 15HA imposes hefty penalties for fraudulent securities practices, up to 25 crore or triple illicit gains.</h1> Section 15HA of the Securities and Exchange Board of India Act, 1992, stipulates penalties for engaging in fraudulent and unfair trade practices related to securities. Individuals found guilty of such practices face a penalty ranging from a minimum of five lakh rupees to a maximum of twenty-five crore rupees or three times the profits made from these practices, whichever is higher. This provision was introduced by the SEBI (Amendment) Act, 2002, and the penalty structure was revised by the Securities Laws (Amendment) Act, 2014.
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