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of <h1>Section 23JB: Recovery Officer Powers to Enforce Unpaid Penalties and Recover Transferred Assets Strengthened by 2014 Amendment.</h1> Section 23JB of the Securities Contracts (Regulation) Act, 1956, as amended by the Securities Laws (Amendment) Act, 2014, empowers a Recovery Officer to recover unpaid penalties, disgorgement orders, or fees due to the Board. Recovery methods include attachment and sale of movable and immovable property, bank account attachment, arrest and detention, and appointing a receiver. Transferred assets to family members without adequate consideration are included in recoverable assets. The Recovery Officer can seek local administration assistance and has priority over other claims. The term 'Recovery Officer' refers to a Board-authorized officer.
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