Securities and Exchange Board of India Act : Penalty for failure to furnish information return, etc.

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Penalty for failure to furnish information return, etc.

15A. Penalty for failure to furnish information return etc. If any person, who is required under this Act or any rules or regula- tions made thereunder,-- (a) to furnish any document, return or report to the Board, fails to furnish the same, he shall be liable to a penalty not exceeding one lakh and fifty thousand rupees for each such failure; (b) to file any return or furnish any information, books or other documents within the time specified therefor in the regulations, fails to file return or furnish the same within the time speccified therefor in the regulations, he shall be liable to a penalty not exceeding five thousand rupees for every day during which such failure continues; (c) to maintain books of account or records, fails to main- tain the same, he sahll be liable to a penalty not exceeding ten thousand rupees for every day during which the failure continues.