Penalty structure now prescribes a minimum, daily accrual and an overall cap for failures under securities law. The amendment to section 15B substitutes the penalty wording to provide that the penalty shall not be less than one lakh rupees, may extend to one lakh rupees for each day during which such failure continues, and is subject to a maximum aggregate cap of one crore rupees, replacing the prior comparative phrasing and thereby setting a defined minimum, daily accrual rate and overall ceiling for statutory failures.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty structure now prescribes a minimum, daily accrual and an overall cap for failures under securities law.
The amendment to section 15B substitutes the penalty wording to provide that the penalty shall not be less than one lakh rupees, may extend to one lakh rupees for each day during which such failure continues, and is subject to a maximum aggregate cap of one crore rupees, replacing the prior comparative phrasing and thereby setting a defined minimum, daily accrual rate and overall ceiling for statutory failures.
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