Securities And Exchange Board of India Act, 1992
Section - 15C - Penalty for failure to redress investors’ grievances
[Penalty for failure to redress investors- grievances15C. 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 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]];
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