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        SEBI

        Section 23F - Penalty for excess dematerialisation or delivery of unlisted securities.

        Securities Contracts (Regulation) Act, 1956
        PENALTIES AND PROCEDURE

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        Penalty for excess dematerialisation: issuers face regulatory sanction for dematerialising or delivering unlisted or non-permitted securities. Section 23F establishes that an issuer who dematerialises securities beyond the company's issued securities, delivers securities on a stock exchange that are not listed, or delivers securities without trading permission from the recognised stock exchange shall be liable to a penalty not less than five lakh rupees and which may extend to twenty-five crore rupees.
                    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 excess dematerialisation: issuers face regulatory sanction for dematerialising or delivering unlisted or non-permitted securities.

                          Section 23F establishes that an issuer who dematerialises securities beyond the company's issued securities, delivers securities on a stock exchange that are not listed, or delivers securities without trading permission from the recognised stock exchange shall be liable to a penalty not less than five lakh rupees and which may extend to twenty-five crore rupees.


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