Penalty for default in case of stock brokers . — If any person, who is registered as a stock broker under thi… — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Penalty for default in case of stock brokers . — If any person, who is registered as a stock broker under this Act, —

15F. Penalty for default in case of stock brokers . — If any person, who is registered as a stock broker under this Act, — (a) fails to issue contract notes in the form and manner specified by the stock exchange of which such broker is a member, he shall be liable to 4 [a penalty which shall not be less than one lakh rupees but which may extend to 5 [one crore rupees]] for which the contract note was required to be issued by that broker; (b) fails to deliver any security or fails to make payment of the amount due to the investor in the manner within the period specified in the regulations, he shall be liable to 6 [a penalty

Section 15F