15C. Penalty for failure to redress investors‟ grievances
[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].]
Amendment notes (3)
- Subs w.e.f. 29-10-2002 . Subs. by Act 59 of 2002, s. 11, for section 15C (w.e.f. 29-10-2002).
- Ins w.e.f. 20-1-2020 . Ins. by Act 23 of 2019, s. 183 (w.e.f. 20-1-2020).
- Subs w.e.f. 8-9-2014 . Subs. by Act 27 of 2014, s. 8, for certain words (w.e.f. 8-9-2014).