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    Question

    What is the penalty for fraudulent and unfair trade

    practices as per SEBI Act, 1992?
    A 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 Correct Answer Incorrect Answer
    B Not 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 Correct Answer Incorrect Answer
    C Not less than ten lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of insider trading, whichever is higher Correct Answer Incorrect Answer
    D As per discretion of Chief Justice of Bombay High Court Correct Answer Incorrect Answer

    Solution

    As per Section 15HA of SEBI Act, penalty for fraudulent and unfair trade practices not be less than five lakh rupees but which may extend toĀ  twenty-fiveĀ  croreĀ  rupeesĀ  orĀ  threeĀ  timesĀ  theĀ  amountĀ  ofĀ  profitsĀ  madeĀ  outĀ  ofĀ  such practices, whichever is higher.

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