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SEBI penalty cap increased by amendment to Section 15F, raising monetary ceiling for violations under enforcement regime. The Finance (No. 2) Act, 2019 amends section 15F of the Securities and Exchange Board of India Act, 1992 by inserting the words 'one crore rupees' in sub clause (a) immediately after the words 'one lakh rupees but which may extend to', thereby modifying the statutory phrasing setting the penalty ceiling in that sub clause.
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<h1>SEBI penalty cap increased by amendment to Section 15F, raising monetary ceiling for violations under enforcement regime.</h1> The Finance (No. 2) Act, 2019 amends section 15F of the Securities and Exchange Board of India Act, 1992 by inserting the words 'one crore rupees' in sub clause (a) immediately after the words 'one lakh rupees but which may extend to', thereby modifying the statutory phrasing setting the penalty ceiling in that sub clause.
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