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of <h1>Section 23M: Penalties for Violating Securities Contracts Act Include Up to 10 Years Imprisonment and Heavy Fines.</h1> Section 23M of the Securities Contracts (Regulation) Act, 1956, addresses penalties for contravening or attempting to contravene the Act's provisions or associated rules, regulations, or bye-laws. If no specific punishment is provided elsewhere in the Act, offenders may face imprisonment up to ten years, a fine up to twenty-five crore rupees, or both. Additionally, failure to pay penalties or comply with directions or orders from the adjudicating officer or the Securities and Exchange Board of India may result in similar penalties, with imprisonment ranging from one month to ten years.
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