The Depositories Act

Power of Board to call for information and enquiry

Power of Board to give directions in certain cases

Penalty for failure to furnish information, return, etc

Penalty for failure to enter into an agreement

Penalty for failure to redress investors‟ grievances

Penalty for delay in dematerialisation or issue of certificate of securities

Penalty for failure to reconcile records

Penalty for failure to comply with directions issued by Board under section 19 of the Act

Penalty for conduct business in a fair manner

Penalty for contravention where no separate penalty has been provided

Power to adjudicate

Factors to be taken into account by adjudicating officer

Settlement of Administrative and Civil Proceeding

Recovery of amounts

Continuance of proceedings

Crediting sums realised by way of penalties to Consolidated Fund of India


ENQUIRY AND INSPECTION


If any person fails to comply with the directions issued by the Board under section 19, within the
time specified by it, he shall be liable to a penalty 1
[which shall not be less than one lakh rupees but which
may extend to one lakh rupees for each day during which such failure continues subject to a maximum of
one crore rupees].

LAWGIST

# 19F Penalty for failure to comply with directions issued by Board under section 19 of the Act