[15EA. Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts.-- Where any person fails to comply with the regulations made by the Board in respect of alternative investment funds, infrastructure investment trusts and real estate investment trusts or fails to comply with the directions issued by the Board, such person shall be liable to penalty which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees or three times the amount of gains made out of such failure, whichever is higher.]
Section 15EA: Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts.
The Securities and Exchange Board of India Act, 1992Central Act · Act 15 of 1992
Where this provision sits
| Act | The Securities and Exchange Board of India Act, 1992 |
|---|---|
| Section | 15EA |
| Marginal note | Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts. |
| Jurisdiction | Central |
| Status | In force as published by the source |
| Judgments citing it | 1 |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- inserted, Act 13 of 2018. . Ins. by Act 13 of 2018, s. 182 (w.e.f. 8-3-2019).
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