Section 5(1) in The Securities Contracts (Regulation) (Procedure For Holding Inquiry And Imposing Penalties By Adjudicating Officer) Rules, 2005
(1)If, upon consideration of the evidence produced before the adjudicating officer, the [the Board or the adjudicating officer] [Substituted 'adjudicating officer' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).] is satisfied that the person has become liable to penalty under any of the sections specified in sub-section (1) of the [sub-section (2) of section 12A or section 23-I] [Substituted 'section 23-I' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).] of the Act, he may, by order in writing, impose such penalty as he thinks fit in accordance with the provisions of the relevant section or sections specified in [sub-section (2) of section 12A or section 23-I] [Substituted 'section 23-I' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).] of the Act.
