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of <h1>Section 23-I Empowers Board to Review and Enhance Penalties on Erroneous Orders Affecting Securities Market Interests.</h1> Section 23-I of the Securities Contracts (Regulation) Act, 1956, as amended by the Securities Laws (Amendment) Act, 2014, introduces a new sub-section allowing the Board to review and examine proceedings if an adjudicating officer's order is deemed erroneous and not in the securities market's interest. The Board may enhance the penalty after conducting necessary inquiries, provided the concerned party is given a hearing opportunity. This provision is not applicable beyond three months from the adjudicating officer's order or the appeal's disposal under section 23L, whichever occurs first.
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