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          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.

          <h1>Penalty for mutual fund defaults: per day statutory fines apply for registration, disclosure and investment failures.</h1> Section 15D prescribes a statutory penalty framework for specified defaults by persons sponsoring or operating collective investment schemes, including mutual funds. Separate operative defaults are enumerated: unregistered sponsorship; non compliance with registration terms; failure to apply for listing; failure to despatch unit certificates; failure to refund application monies within the prescribed period; and failure to invest collected monies as required. Each default attracts per day monetary penalties for the duration of the default, subject to the statutory ceiling set by amendment.

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