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Section23
The Securities and Exchange Board of India Act, 1992

Protection of action taken in good faith

In force From 30 Jan 1992 Act 15 of 1992 As on 15 Oct 2026

Act 15 of 1992 Ministry Finance Enacted 04 Apr 1992 In force 30 Jan 1992 Instruments 5

Section 23 of the Securities and Exchange Board of India Act, 1992 deals with protection of action taken in good faith. No suit, prosecution or other legal proceedings shall lie against the Central Government [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 regulation The Act came into force on 30 Jan 1992.

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.

Section 23, The Securities and Exchange Board of India Act, 1992 (Act 15 of 1992).

Made under this section, and citing it

1 instrument states that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.

Another 4 instruments name this provision in its title or its text without being made under it.

All subordinate legislation

Questions about Section 23

What does Section 23 of the Securities and Exchange Board of India Act deal with?

Section 23 of the Securities and Exchange Board of India Act is headed "Protection of action taken in good faith". No suit, prosecution or other legal proceedings shall lie against the Central Government [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 regulation

How do I find court cases under Section 23 of the Securities and Exchange Board of India Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Sebi Act 23, section 23 Sebi Act, section 23 of the Securities and Exchange Board of India Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 23 of the Securities and Exchange Board of India Act, and has it changed?

The rules and notifications made under it are where it actually bites, and there is one: most recently Depositories (Appeal to Central Government) Rules, 1998 (1998).

When did Section 23 of the Securities and Exchange Board of India Act come into force?

Section 23 of the Securities and Exchange Board of India Act, cited as Sebi Act 23, came into force on 30 Jan 1992, having been enacted on 04 Apr 1992. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.