Section 5(1) in The Depositories (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. 211(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 section 19-H 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 section 19-H of the Act.
