Securities and Exchange Board of India Act : Penalty for failure to observe rules and regulations

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Penalty for failure to observe rules and regulations by an assetmanagement company.

15E. Penalty for failure to observe rules and regulations by an asset management company. Where any asset management company of a mutual fund registered under this Act fails to comply with any of the regulations providing for restrictions on the activities of the asset management ccompanies, such asset management company shall be liable to a penalty not exceeding five lakh rupees for each such failure.