Securities And Exchange Board of India Act, 1992
Section - 15G - Penalty for insider trading
Penalty for insider trading
.
15G
. If any insider who,-
shall be liable to a penalty [which shall not be less than ten lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of insider trading, whichever is higher].
| (i) | - | either on his own behalf or on behalf of any other person, deals in securities of a body corporate listed on any stock exchange on the basis of any unpublished price-sensitive information; or |
| (ii) | - | communicates any unpublished price-sensitive information to any person, with or without his request for such information except as required in the ordinary course of business or under any law; or |
| (iii) | - | counsels, or procures for any other person to deal in any securities of any body corporate on the basis of unpublished price-sensitive information, |
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