Section 45: Residuary penalty

Whoever contravenes any [rules, regulations, directions or orders] made under this Act, for the contravention of which no penalty has been separately provided, shall be liable to pay a [penalty not exceeding one lakh rupees, in addition to compensation to the person affected by such contravention not exceeding— (a) ten lakh rupees, by an intermediary, company or body corporate; or/be (b) one lakh rupees, by any other person.]

Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 14 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 45

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