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<h1>Registrar and share transfer agent liability: defaults on statutory or exchange obligations trigger action under intermediaries regulations framework.</h1> Liability is imposed on a registrar to an issue and share transfer agent for failure to comply with registration conditions or for contravention of the Act, related rules or regulations, the Securities Contracts (Regulation) Act, the Depositories Act, or stock exchange rules and bye laws; such defaults are to be dealt with under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.