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of <h1>Securities Laws Amendment: Section 15D Penalties Raised for Violations in Investment Schemes, Mutual Funds to Ensure Compliance.</h1> Section 15D 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 violations related to collective investment schemes and mutual funds. It specifies that penalties shall not be less than one lakh rupees and may extend to one lakh rupees per day for ongoing violations, with a maximum cap of one crore rupees. This change applies to clause (a) and clauses (b) through (f), ensuring a consistent penalty framework for such infractions.
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