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Section 20: Offences
1[2 [20. Offences.–(1) Without prejudice to any award of penalty by the adjudicating officer 3 [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 or bye-laws made thereunder, he shall be punishable with imprisonment for a term which may extend to 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 4 [adjudicating officer or the Board or fails to comply with any] 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 ten years, or with fine, which may extend to twentyfive crore rupees, or with both.]
Source: official text of The Depositories Act, 1996 as published on India Code (PDF). All sections of the Depositories Act, 1996.