Section 23. Protection of action taken in good faith

23. 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. 2 [24. 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 made thereunder, he shall be punishable with imprisonment for a term which may extend to[4] [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[5] [or the Board] or fails to comply with any[6] * 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[7] [ten years, or with fine, which may extend to twenty-five crore rupees or with both].] 8 [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.