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CS Executive · Capital Market and Securities Laws · Collective Investment Schemes

Where do the sums realised as penalties under the SEBI Act, 1992, including those under Section 15D, get credited?

All sums realised as penalties under the SEBI Act, 1992, including Section 15D penalties, are credited to the Consolidated Fund of India under Section 15JA. They are not kept by SEBI or distributed to the affected investors under that provision.

  1. AThe Investor Protection and Education Fund of SEBI
  2. BThe general reserves of SEBI
  3. CThe Consolidated Fund of IndiaCorrect
  4. DThe affected investors of the defaulting scheme

Explanation

Section 15JA provides that all sums realised by way of penalties under the Act are credited to the Consolidated Fund of India. They are not retained by SEBI or paid over to investors under this provision.

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