Securities and Exchange Board of India Act, 1992 · Chapter VIA: Penalties and Adjudication
Section 15EB: Penalty for default in case of investment adviser and research analyst
[[15EB. Penalty for default in case of investment adviser and research analyst.—Where an investment adviser or a research analyst fails to comply with the regulations made by the Board or directions issued by the Board, such investment adviser or research analyst shall be liable to penalty 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.]]
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 15EB
No Supreme Court judgment in our database cites this section yet.