The Securities Contracts (Regulation) Act, 1956
Section 23E. Penalty for failure to comply with provision of listing conditions or delisting conditions or grounds.
If a company or any person managing collective investment scheme or mutual fund 1[or real estate investment trust or infrastructure investment trust or alternative investment fund], fails to comply with the listing conditions or delisting conditions or grounds or commits a breach thereof, it or he shall be 2[liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees].
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