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of <h1>Section 23JB: SEBI Recovery Officer Can Enforce Penalties via Property Sale, Bank Attachment, or Arrest</h1> Section 23JB of the Securities Contracts (Regulation) Act, 1956, outlines the recovery process for unpaid penalties, disgorgement orders, or fees due to the Securities and Exchange Board of India (SEBI). If a person fails to comply, the Recovery Officer can recover amounts through attachment and sale of movable and immovable property, bank account attachment, arrest, or appointing a receiver. The provisions of the Income-tax Act, 1961, apply with necessary modifications. The Recovery Officer can seek local district administration assistance, and recovery actions take precedence over other claims. The Recovery Officer is an authorized SEBI officer.
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