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of <h1>Section 19E of Depositories Act 1996: Amended Penalty Structure Caps at One Crore Rupees for Ongoing Failures.</h1> Section 19E of the Depositories Act, 1996, as amended by the Securities Laws (Amendment) Act, 2014, modifies the penalty structure for certain failures. The amendment replaces the previous penalty language with a new provision stating that the penalty shall not be less than one lakh rupees and may extend to one lakh rupees for each day the failure continues, with a maximum cap of one crore rupees.
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