Lawgist23JFactors to be taken into account by the adjudicating officer
23J. 1[Factors to be taken into account while adjudging quantum of penalty.]--While adjudging the quantum of penalty under 2[section 12A or section 23-I], 3[the Securities and Exchange Board of India or the adjudicating officer] shall have due regard to the following factors, namely:--
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.
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1. Subs. by Act 13 of 2019, s. 154, for "Factors to be taken into account by adjudicating officer" (w.e.f. 8-3-2019).
2. Subs. by s. 154, ibid., for "section 23-I" (w.e.f. 8-3-2019).
3. Subs. by s. 154, ibid., for "the adjudicating officer" (w.e.f. 8-3-2019).
- 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
