With six phases still remaining in the seven phases of election, the exit poll favoring BJP which turned out to be controversial to turn votes towards BJP.
Polls have concluded in Goa and Punjab and will be held in Uttarakhand and Manipur.
However, it is expected that BSP and SP-Congress might file complaints with the Election Commission seeking action against the newspaper report and the agency that conducted the survey.
"The Commission has made a decision to take stringent action against the perpetrators of this serious violation of the Provisions of Section 126A of R. P. Act, 1951 to uphold the law to ensure the smooth conduct of free and fair elections", an official press release from the ECI said here.
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The ECI, in its order, stated the reported violation by the Resource Development International (I) Pvt Ltd and Dainik Jagran by conducting the exit poll.
The poll body said Section 126A (1) of Representation of the People Act, 1951 provides that no person shall conduct any exit poll & publish.
The EC had, in a previous order, banned publication of opinion polls from 7 am of February 4 (when the five-state Assembly elections took off) to 5:30 pm on March 8 (when the elections will get over), and the publication of the exit polls violates the aforementioned section of the RP Act.
In a letter to the chief electoral officer of Uttar Pradesh, the poll panel reminded him that the "offence under Section 126A of the Representation of the People Act is punishable by imprisonment of up to two years or fine or both".
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The Election Commission on Monday ordered lodging of FIRs against a Hindi daily and an agency for publishing exit polls during the ongoing Assembly elections in Uttar Pradesh.
The Commission has chose to take stringent action against the perpetrators of this serious violation of the Provisions of Section 126A of R. P. Act, 1951 to uphold the law to ensure the smooth conduct of free and fair elections.
"Commission while reiterating its directions, makes it clear that it will not hesitate to take stern legal action in the event of any violations of the above mentioned legal provisions", the release added.
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