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of <h1>Section 19B Depositories Act 1996 imposes minimum one lakh rupees penalty for failing mandatory agreements, escalating daily up to one crore maximum</h1> Section 19B of the Depositories Act, 1996 establishes penalties for failure to enter into required agreements. Depositories, participants, issuers, their agents, or registered intermediaries under SEBI Act 1992 who fail to enter mandatory agreements face penalties of minimum one lakh rupees, extending to one lakh rupees per day of continued failure, capped at one crore rupees maximum. This provision was inserted in 2004 and amended in 2014 to establish minimum penalty thresholds and daily accumulation structure.
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