Securities And Exchange Board of India Act, 1992
Section - 15J - Factors to be taken into account while adjudging quantum of penalty
[Factors to be taken into account while adjudging quantum of penalty.]15J. While adjudging quantum of penalty under [section 15-I or section 11 or section 11B, the Board 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. |
| - | [Explanation.-For the removal of doubts, it is clarified that the power [***[ to adjudge the quantum of penalty under sections 15A to 15E, clauses (b) and (c) of sections 15F, 15G, 15H and 15HA shall be and shall always be deemed to have been ex .... To read the full section download the app from Google Play store
24 October 2026
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