Section 24 - Offences - Securities and Exchange Board of India Act, 1992

1 [Offences. 24. (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 made thereunder, he shall be punishable with imprisonment for a term which may extend to 2 [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 4 [ or the Board ] or fails to comply with any 5 [******] 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 3 [ten years, or with fine, which may extend to twenty-five crore rupees or with both]. ********* 1 Substituted by for section 24 by the Securities Laws (Amendment) Act 1995, w.e.f. 25-1-1995. Prior to its substitution section 24 read as under: 24. Penalty.- Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this Act or of any rules or regulations made thereunder, shall be punishable with imprisonment for a term which may extend to one year, or with fine, or with both. 2 Substituted for one year, or with fine, or with both by the SEBI (Amendment) Act, 2002, w.e.f. 29-10-2002. 3 Substituted for three years or with fine which shall not be less than two thousand rupees but which may extend to ten thousand rupees or with both by the SEBI (Amendment) Act, 2002 w.e.f. 29-10-2002, for three years or with fine which shall not be less than two thousand rupees but which may extend to ten thousand rupees or with both . 4 Inserted vide FINANCE ACT, 2018 w.e.f. 08-03-2019 5 Omitted vide FINANCE ACT, 2018 w.e.f. 08-03-2019 before it was read as of his