Penalty for failure to reconcile records: entities must reconcile dematerialised securities or face prescribed penalties. Depositories, participants, issuers, their agents and registered intermediaries must reconcile records of dematerialised securities with securities issued by the issuer as specified by regulations; failure attracts a statutory per-day monetary penalty for the period of non-compliance, subject to an overall statutory cap and amended penalty formulation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for failure to reconcile records: entities must reconcile dematerialised securities or face prescribed penalties.
Depositories, participants, issuers, their agents and registered intermediaries must reconcile records of dematerialised securities with securities issued by the issuer as specified by regulations; failure attracts a statutory per-day monetary penalty for the period of non-compliance, subject to an overall statutory cap and amended penalty formulation.
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