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of <h1>New Section 19FA Added to Depositories Act 1996: Penalties for Unfair Business Practices Range from 5-25 Crores.</h1> A new section 19FA has been added to the Depositories Act, 1996, through the Finance Act, 2018. This section imposes penalties on depositories that fail to conduct business fairly with participants, issuers, agents, or any person associated with securities markets, as per the rules and regulations set by the Board. The penalty ranges from a minimum of five crore rupees to a maximum of twenty-five crore rupees or three times the gains made from such unfair conduct, whichever is higher.
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