Lawgist15CPenalty for failure to redress investors‟ grievances
1[15C. Penalty for failure to redress investors’ grievances.—If any listed company or any person who is registered as an intermediary, after having been called upon by the Board in writing 2[including by by any means of electronic communication], to redress the grievances of investors, fails to redress such grievances within the time specified by the Board, such company or intermediary shall be liable to a penalty 3[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. Subs. by Act 59 of 2002, s. 11, for section 15C (w.e.f. 29-10-2002).
2. Ins. by Act 23 of 2019, s. 183 (w.e.f. 20-1-2020).
3. Subs. by Act 27 of 2014, s. 8, for certain words (w.e.f. 8-9-2014).
- 15A Penalty for failure to furnish information, return, etc
- 15B Penalty for failure by any person to enter into agreement with clients
- 15C Penalty for failure to redress investors‟ grievances
- 15D Penalty for certain defaults in case of mutual funds
- 15E Penalty for failure to observe rules and regulations by an asset management company
- 15EA Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts
- 15EB Penalty for default in case of investment adviser and research analyst
- 15F Penalty for default in case of stock brokers
- 15G Penalty for insider trading
- 15H Penalty for non-disclosure of acquisition of shares and takeovers
- 15HA Penalty for fraudulent and unfair trade practices
- 15HAA Penalty for alteration, destruction, etc., of records and failure to protect the electronic database of Board
- 15HB Penalty for contravention where no separate penalty has been provided
- 15-I Power to adjudicate
- 15J Factors to be taken into account while adjudging quantum of penalty
- 15JA Crediting sums realised by way of penalties to Consolidated Fund of India
- 15JB Settlement of administrative and civil proceedings
