Penalty framework under securities law amended to set a minimum daily penalty and a capped aggregate maximum. Amendment to section 23B rephrases the penalty provision to specify a minimum daily penalty which may be levied each day during continuing failure, while imposing a maximum aggregate cap; the substituted text reframes the sanction as not less than one lakh rupees per day subject to a maximum of one crore rupees.
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 framework under securities law amended to set a minimum daily penalty and a capped aggregate maximum.
Amendment to section 23B rephrases the penalty provision to specify a minimum daily penalty which may be levied each day during continuing failure, while imposing a maximum aggregate cap; the substituted text reframes the sanction as not less than one lakh rupees per day subject to a maximum of one crore rupees.
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