Securities and Exchange Board of India Act : Penalty for failure to redress investors' grievances.

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Penalty for failure to redress investors' grievances.

15C. Penalty for failure to redress investors' grievances. If any person, who is registered as an intermediary, after having been called upon by the Board in writing to redress the grievances of investors, fails to redress such grievances, he shall be liable to a penalty not exceeding ten thousand rupees for each such failur.