Securities Contracts (Regulation) Act, 1956

Section - 23A - Penalty for failure to furnish information, return, etc.

[Penalty for failure to furnish information, return, etc

23A. Any person, who is required under this Act or any rules made thereunder,-

(a)	-	to furnish any information, document, books, returns or [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 false, incorrect or incomplete information, document, books, return or report], shall be liable to a penalty [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] 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 [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].