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Section 19A – The Depositories Act, 1996

The Depositories Act, 1996

 

 

19A. Penalty for failure to furnish information, return, etc..

 

1[19A. Penalty for failure to furnish information, return, etc.—Any person, who is required under this Act or any rules or regulations or bye‑laws made thereunder,—

 

(a) to furnish any information, document, books, returns or report to the Board, fails to furnish the same within the time specified therefor, he shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less for each such failure;

 

(b) to file any return or furnish any information, books or other documents within the time specified therefor in the regulations or the bye‑laws, fails to file return or furnish the same within the time specified therefor, he shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less;

 

(c) to maintain books of account or records, fails to maintain the same, he shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less.]

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1. Ins. by Act 1 of 2005, sec. 17 (w.r.e.f. 12-10-2004).

 

 

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The Depositories Act, 1996

 

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