THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 · PENALTIES AND ADJUDICATION
Section 15HA — Penalty for fraudulent and unfair trade practices
If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty 4[which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher].