Lawgist23APenalty for failure to furnish information, return, etc
1[23A. Penalty for failure to furnish information, return, etc.--Any person, who is required under this Act or any rules made thereunder,--
(a) to furnish any information, document, books, returns or 2[report to a recognised stock exchange or to the Board, fails to furnish the same within the time specified therefor in the listing agreement or conditions or bye-laws of the recognised stock exchange or the Act or rules made thereunder, or who furnishes] 3[false, incorrect or incomplete information, document, books, return or report], shall be liable to a penalty 4[which shall not be less than one lakh rupees but which may extend to one lakh rupees for each during which such failure continues subject to a maximum of one crore rupees], whichever is less for each such failure;
(b) to maintain books of account or records, as per the listing agreement or conditions, or bye-laws of a recognised stock exchange, fails to maintain the same, shall be liable to a penalty 1[which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees].]
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1. Ins. by Act 1 of 2005, s. 11 (w.e.f. 12-10-2004).
2. Subs. by Act 23 of 2019, s. 146, for certain words (w.e.f. 20-1-2020).
3. Ins. by Act 13 of 2018, s. 149 (w.e.f. 8-3-2019).
4. Subs. by Act 27 of 2014, s. 25, for "of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less" (w.e.f. 8-9-2014).
- 23 Penalties
- 23A Penalty for failure to furnish information, return, etc
- 23B Penalty for failure by any person to enter into an agreement with clients
- 23C Penalty for failure to redress Investors grievances
- 23D Penalty for failure to segregate securities or moneys of client or clients
- 23E Penalty for failure to comply with provision of listing conditions or delisting conditions or grounds
- 23F Penalty for excess dematerialisation or delivery of unlisted securities
- 23G Penalty for failure to furnish periodical returns, etc
- 23GA Penalty for failure to conduct business in accordance with rules, etc
- 23H Penalty for contravention where no separate penalty has been provided
- 23-I Power to adjudicate
- 23J Factors to be taken into account by the adjudicating officer
- 23JA Settlement of administrative and civil proceedings
- 23JB Recovery of amounts
- 23JC Continuance of proceedings
- 23K Crediting sum realised by way of penalties to Consolidated Fund of India
- 23L Appeal to Securities Appellate Tribunal
- 23M Offences
- 23N Composition of certain offences
- 23-O Power to grant immunity
- 24 Offences by companies
- 25 Certain offences to be cognizabl
- 26 Cognizance of offences by courts
- 26A Establishment of Special Courts
- 26B Offences triable by Special Courts
- 26C . Appeal and Revision
- 26D Application of Code to proceedings before Special Court
- 26E Transitional provisions
