Penalty for failure to reconcile records
Section 19E of the Depositories Act, 1996 deals with penalty for failure to reconcile records. If a depository or participant or any issuer or its agent or any person, who is registered as an intermediary under the provisions of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), fails to reconcile the records of dematerialised securities with all the securities i The Act came into force on 20 Sep 1995.
If a depository or participant or any issuer or its agent or any person, who is registered as an intermediary under the provisions of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), fails to reconcile the records of dematerialised securities with all the securities issued by the issuer as specified in the regulations, such depository or participant or issuer or its agent or intermediary shall be liable to a penalty 1 [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees].
Section 19E, The Depositories Act, 1996 (Act 22 of 1996).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Made under this section, and citing it
1 instrument states that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Questions about Section 19E
What does Section 19E of the Depositories Act deal with?
Section 19E of the Depositories Act is headed "Penalty for failure to reconcile records". If a depository or participant or any issuer or its agent or any person, who is registered as an intermediary under the provisions of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), fails to reconcile the records of dematerialised securities with all the securities i
How do I find court cases under Section 19E of the Depositories Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Depositories Act 1996 19E, section 19E Depositories Act 1996, section 19E of the Depositories Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 19E of the Depositories Act, and has it changed?
Its own text turns on Securities and Exchange Board of India Act 12 (Registration of stock-brokers, sub-brokers, share transfer agents, etc), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there is one: most recently the Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005. (2005).
When did Section 19E of the Depositories Act come into force?
Section 19E of the Depositories Act, cited as Depositories Act 1996 19E, came into force on 20 Sep 1995, having been enacted on 10 Aug 1996. It is in force as at the date shown on this page.
Other sections of this Act
- 19-IB. Recovery of amounts590 words
- 19-IC. Continuance of proceedings382 words
- 26. Power of depositories to make bye-laws377 words
- 2. Definitions349 words
- 19H. Power to adjudicate314 words
- 23A. Appeal to Securities Appellate Tribunal284 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.