[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 [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 [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].]
Section 15C: Penalty for failure to redress investors‟ grievances.
The Securities and Exchange Board of India Act, 1992Central Act · Act 15 of 1992
Where this provision sits
| Act | The Securities and Exchange Board of India Act, 1992 |
|---|---|
| Section | 15C |
| Marginal note | Penalty for failure to redress investors‟ grievances. |
| Jurisdiction | Central |
| Status | In force as published by the source |
| Judgments citing it | 2 |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, Act 59 of 2002. . Subs. by Act 59 of 2002, s. 11, for section 15C (w.e.f. 29-10-2002).
- inserted, Act 23 of 2019. . Ins. by Act 23 of 2019, s. 183 (w.e.f. 20-1-2020).
- substituted, Act 27 of 2014. . Subs. by Act 27 of 2014, s. 8, for certain words (w.e.f. 8-9-2014).
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