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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Legal representatives liable for deceased persons' SEBI obligations under Section 19IC Depositories Act 1996</h1> Section 19IC of the Depositories Act, 1996 establishes liability of legal representatives for deceased persons' obligations under SEBI proceedings. Legal representatives must pay sums the deceased would have owed, except penalties imposed only apply if levied before death. Recovery proceedings for disgorgement or refunds can continue against or be initiated against legal representatives. Personal liability extends to legal representatives who dispose of estate assets while obligations remain unpaid, limited to disposed asset value. Overall liability is capped at the estate's capacity to meet obligations.
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