Securities and Exchange Board of India Act : Penalty for insider trading. Indian Bare Acts :

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Penalty for insider trading.

15G. Penalty for insider trading. If any insider who,-- (i) either on his own behalf or on behalf of any other person, deals in securities of a body corporate listed on any stock exchange on the basis of any unpublished price sensitive information; or (ii) communicates any unpublished price sensitive information to any person, with or without his request for such information except as required in the ordinary ccourse of business or under any law; or (iii) counsels, or procures for any other person to deal in any securities of any body corporate on the basis of unpublished price sensitive information, shall be liable to a penalty not exceeding five lakh rupees.