While adjudging the quantum of penalty under 5[section 12A or section 23-I], 6[the Securities and Exchange Board of India 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.