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The Depositories Act

19APenalty for failure to furnish information, return, etc

2 [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 3 [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents], he shall be liable to a penalty 4 [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] 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 bye-laws, fails to file return or furnish the same within the time specified therefor, he 3 [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents] 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];

(c) to maintain books of account or records, fails to maintain the same, 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].

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1. Ins. by Act 13 of 2018, s. 192 (w.e.f. 8-3-2019).

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

3. Ins. by Act 13 of 2018, s. 193 (w.e.f. 8-3-2019).

4. Subs. by Act 27 of 2014, s. 42, for certain words (w.e.f. 8-9-2014).

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