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of <h1>Penalty Structure in SEBI Act Amended; Section 15B Now Sets Minimum and Daily Penalties for Compliance Failures</h1> Section 15B of the Securities and Exchange Board of India Act, 1992, was amended by the Securities Laws (Amendment) Act, 2014. The amendment modifies the penalty structure for certain failures. Previously, the penalty was either one lakh rupees per day or a maximum of one crore rupees, whichever was less. The revised provision mandates a minimum penalty of one lakh rupees, which may increase to one lakh rupees per day for the duration of the failure, capped at a maximum of one crore rupees.
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