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Section 7

[which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which 8 [such failure continues] subject to a maximum of one crore rupees]];

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7 [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which 8 [such failure continues] subject to a maximum of one crore rupees]]; (c) charges an amount of brokerage which is in excess of the brokerage specified in the regulations, he shall be liable to 9 [a penalty 10 [[which shall not be less than one lakh rupees but which may extend to five times the amount of brokerage]] charged in excess of the specified brokerage, whichever is higher.