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of <h1>Penalties Under Section 23 of Securities Contracts Act: Unauthorized Trading, Contracts, and Non-Compliance Could Lead to Severe Consequences.</h1> Section 23 of the Securities Contracts (Regulation) Act, 1956, outlines penalties for various contraventions related to securities contracts. It penalizes individuals who fail to comply with requisitions, enter into unauthorized contracts, or manage unauthorized trading venues. Violations include unauthorized representation or advertising of securities services, and gathering for unauthorized trading activities. Offenders may face imprisonment up to ten years, fines up to twenty-five crore rupees, or both. The section also addresses non-compliance with specific provisions or orders, with similar penalties applicable. These measures are enforced to maintain regulatory compliance in securities trading.
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