Date of failure is relevant and not date of imposition of penalty to apply amended sec. 15A of SEBI

SEBI : Where SEBI's summons to respondent to furnish required documents was prior to 29-10-2002 when SEBI(Amendment) Act, 2002 came into force by which penalty under section 15A had been enhanced to Rs. 1 lakh for each day of failure to furnish required document, return or report, or Rs. 1 crore, whichever is less, penalty prior to amendment to section 15A would be applicable, i.e. Rs. 1.5 lakhs on failure of respondent to furnish required documents