Chapter VII - RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION (From Regulation 40 to Regulation 82AA)
Interest on late annual fees: depositories face monthly interest for unpaid, belated or short payments under regulation. Where a depository defaults in paying any fee due under Regulations 8 or 9 - unpaid, belatedly paid or short-paid - it must pay interest at fifteen per cent per annum on the unpaid, belatedly paid or short-paid amount for every month of delay or part thereof, without prejudice to other action the Board may initiate under the Act, rules or regulations.
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.
Interest on late annual fees: depositories face monthly interest for unpaid, belated or short payments under regulation.
Where a depository defaults in paying any fee due under Regulations 8 or 9 - unpaid, belatedly paid or short-paid - it must pay interest at fifteen per cent per annum on the unpaid, belatedly paid or short-paid amount for every month of delay or part thereof, without prejudice to other action the Board may initiate under the Act, rules or regulations.
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