(1) Without prejudice to any award of penalty by the adjudicating officer 1[or the Securities and Exchange Board of India] under this Act, if any person contravenes or attempts to contravene or abets the contravention of the provisions of this Act or of any rules or regulations or bye-laws made thereunder, for which no punishment is provided elsewhere in this Act, he shall be punishable with imprisonment for a term which may extend to ten years, or with fine, which may extend to twenty-five crore rupees or with both.
(2) If any person fails to pay the penalty imposed by the adjudicating officer 1[or the Securities and Exchange Board of India] or fails to comply with 2[the direction or order], he shall be punishable with imprisonment for a term which shall not be less than one month but which may extend to ten years, or with fine, which may extend to twenty-five crore rupees, or with both.
Footnotes in the official text
- 1.Ins. by Act 13 of 2018, s. 158 (w.e.f. 8-3-2019).
- 2.Subs. by s. 158, ibid., for “any of his direction or orders” (w.e.f. 8-3-2019).