Section 5(1) in Securities Contracts (Regulation) (Procedure For Holding Inquiry and Imposing Penalties) 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.
