Section 21 in The Securities and Exchange Board of India Act, 1992
Nothing in this Act shall exempt any person from any suit or other proceedings which might, apart from this Act, be brought against him.
Title: Members, officers and employees of the Board to be public servants
All members, officers and other employees of the Board shall be deemed, when acting or purporting to act in pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).
Title: Protection of action taken in good faith
No suit, prosecution or other legal proceedings shall lie against the Central Government 1[or Board] or any officer of the Central Government or any member, officer or other employee of the Board for anything which is in good faith done or intended to be done under this Act or the rules or regulations made thereunder.
1. Ins. by Act 9 of 1995, s. 12 (w.e.f. 25-1-1995).
1[24. Offences.--(1) Without prejudice to any award of penalty by the adjudicating officer 2[or the Board] under this Act, if any person contravenes or attempts to contravene or abets the contravention of the provisions of this Act or of any rules or regulations made thereunder, he shall be punishable with imprisonment for a term which may extend to 3[ten years, or with fine, which may extend to twenty-five crore rupees or with both].
(2) If any person fails to pay the penalty imposed by the adjudicating officer 2[or the Board] or fails to comply with any 4*** directions or orders, he shall be punishable with imprisonment for a term which shall not be less than one month but which may extend to 5[ten years, or with fine, which may extend to twenty-five crore rupees or with both].
1. Subs. by s. 13,ibid., for section 24 (w.e.f. 25-1-1995).
2. Ins. by Act 13 of 2018, s. 187 (w.e.f. 8-3-2019).
3. Subs. by Act 59 of 2002, s. 28, for "one year, or with fine, or with both" (w.e.f. 29-10-2002).
4. The words "of his" omitted by s. 187,ibid. (w.e.f. 8-3-2019).
5. Subs. by s. 28, ibid., for certain words (w.e.f. 29-10-2002).
Title: Composition of certain offences
1[24A. Composition of certain offences.--Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), any offence punishable under this Act, not being an offence punishable with imprisonment only, or with imprisonment and also with fine, may either before or after the institution of any proceeding, be compounded by a Securities Appellate Tribunal or a court before which such proceedings are pending.]
1. Ins. by s. 29, ibid. (w.e.f. 29-10-2002).