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If any person, who is registered with the Board as a

Q: Answer-If any person, who is registered with the Board as a collective investment scheme, including mutual...

Section 15D of SEBI Act. This section specifically deals with Penalty for certain defaults in case of mutual funds. If a person registered with the Board as a collective investment scheme including mutual funds fails to comply with the terms and conditions of their certificate of registration Minimum Penalty 1 Lakh Daily Penalty Up to 1 Lakh for each day the failure continues Maximum Penalty Cap 1 Crore Note This specific structure was standardized under the Securities Laws Amendment Act, 2014, to ensure penalties for administrative and compliance failures like those in Section 15A, 15B, 15C, and 15D are capped at 1 Crore, distinguishing them from more severe offenses like insider trading or fraud Sections 15G and 15HA which carry higher caps e.g., 25 Crore.

collective investment scheme, including mutual funds, for sponsoring or carrying on any investment scheme, fails to comply with the terms and conditions of certificate of registration, he shall be liable to a penalty

A not be less than one lakh rupees but extending to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees

B not be less than one lakh rupees but extending to a maximum of one crore

C not be less than one lakh rupees but extending to one lakh rupees for each day during which such failure continues subject to a maximum of ten crore

D not be less than ten lakh rupees but extending to one lakh rupees for each day during which such failure continues subject to a maximum of one crore

E not be less than one lakh rupees but extending to ten lakh rupees for each day during which such failure continues subject to a maximum of one crore

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If any person, who is registered with the Board as a

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