LawgistThe Securities Contracts (Regulation) Act
23FPenalty for excess dematerialisation or delivery of unlisted securities
If any issuer dematerialises securities more than the issued securities of a company or delivers in the stock exchanges the securities which are not listed in the recognised stock exchange or delivers securities where no trading permission has been given by the recognised stock exchange, he shall be 1[liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees].
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1. Subs. by s. 30, ibid., for "liable to a penalty not exceeding twenty-five crore rupees" (w.e.f. 8-9-2014).
PENALTIES AND PROCEDURE
- 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
