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    Question

    What are the possible penalties for a person who

    contravenes, attempts to contravene, or abets the contravention of the provisions of the SEBI Act, or any rules or regulations made thereunder?
    A A person can only be fined without the possibility of imprisonment Correct Answer Incorrect Answer
    B A person can be punished with imprisonment for a term up to five years Correct Answer Incorrect Answer
    C A person can be fined up to fifty crore rupees but cannot be imprisoned Correct Answer Incorrect Answer
    D A person can be punished with imprisonment for a term up to ten years, or with a fine up to twenty-five crore rupees, or with both Correct Answer Incorrect Answer
    E A person can be punished with only a warning and no other penalties. Correct Answer Incorrect Answer

    Solution

    Section 24. Offences.—(1) Without prejudice to any award of penalty by the adjudicating officer 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 ten years, or with fine, which may extend to twenty-five crore rupees or with both.

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