KanoonHQ™
Back to THE DEPOSITORIES ACT, 1996

THE DEPOSITORIES ACT, 1996 · MISCELLANEOUS

Section 20 — Offences

(1)Without prejudice to any award of penalty by the adjudicating officer 4[or the Board] 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, 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 5[adjudicating officer or the Board or fails to comply with any] directions or orders, 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.]