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Section 23A - Penalty for failure to furnish information, return, etc. - Securities Contracts (Regulation) Act, 1956Extract 1 [Penalty for failure to furnish information, return, etc. 23A. Any person, who is required under this Act or any rules made thereunder,- (a) to furnish any information, document, books, returns or 5 [ report to a recognised stock exchange or to the Board, fails to furnish the same within the time specified therefor in the listing agreement or conditions or bye-laws of the recognised stock exchange or the Act or rules made thereunder, ] 4 [ or who furnishes false, incorrect or incomplete information, document, books, return or report ] , shall be liable to a penalty 2 [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees] for each such failure; (b) to maintain books of account or records, as per the listing agreement or conditions, or bye-laws of a recognised stock exchange, fails to maintain the same, shall be liable to a penalty 3 [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees.] ******* 1 Inserted by the Securities Laws (Amendment) Act, 2004, Sec 11, w.e.f.. 12-10-2004. 2 Substituted for the words of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less by the Securities Laws (Amendment) Act, 2014, w.e.f 08-09-2014. 3 Substituted for the words of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less by the Securities Laws (Amendment) Act, 2014, w.e.f 08-09-2014. 4. Inserted vide FINANCE ACT, 2018 w.e.f. 08-03-2019 5. Substituted vide FINANCE (NO. 2) ACT, 2019 w.e.f. ......... before it was read as report to a recognised stock exchange, fails to furnish the same within the time specified therefor in the listing agreement or conditions or bye-laws of the recognised stock exchange
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