Power to adjudicate
Section 19H of the Depositories Act, 1996 deals with power to adjudicate. For the purpose of adjudging under sections 19A, 19B, 19C, 19D, 19E, [19F, 19FA and 19G, the Board may appoint any officer not below the rank of a Division Chief of the Securities and Exchange Board of India to be an adjudicating officer for holding an inquiry in the prescribed manner after giving a The Act came into force on 20 Sep 1995.
(1) For the purpose of adjudging under sections 19A, 19B, 19C, 19D, 19E, 1 [19F, 19FA and 19G, the Board may appoint any officer not below the rank of a Division Chief of the Securities and Exchange Board of India to be an adjudicating officer for holding an inquiry in the prescribed manner after giving any person concerned a reasonable opportunity of being heard for the purpose of imposing any penalty.
(2) While holding an inquiry, the adjudicating officer shall have power to summon and enforce the attendance of any person acquainted with the facts and circumstances of the case to give evidence or to produce any document, which in the opinion of the adjudicating officer, may be useful for or relevant to the subject-matter of the inquiry and if, on such inquiry, he is satisfied that the person has failed to comply with the provisions of any of the sections specified in sub-section (1), he may impose such penalty as he thinks fit in accordance with the provisions of any of those sections.
2 [(3) The Board may call for and examine the record of any proceedings under this section and if it considers that the order passed by the adjudicating officer is erroneous to the extent it is not in the interests of the securities market, it may, after making or causing to be made such inquiry as it deems necessary, pass an order enhancing the quantum of penalty, if the circumstances of the case so justify:
Provided that no such order shall be passed unless the person concerned has been given an opportunity of being heard in the matter:
Provided further that nothing contained in this sub-section shall be applicable after an expiry of a period of three months from the date of the order passed by the adjudicating officer or disposal of the appeal under section 23A, whichever is earlier.]
Section 19H, 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.
This section refers to
- s. 19A Penalty for failure to furnish information, return, etc
- s. 19B Penalty for failure to enter into an agreement
- s. 19C Penalty for failure to redress investors‟ grievances
- s. 19D Penalty for delay in dematerialisation or issue of certificate of securities
- s. 19E Penalty for failure to reconcile records
- s. 23A Appeal to Securities Appellate Tribunal
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… However, what is significant is that for a penalty to be imposed under the provisions of Section 19F and 19G, a power to adjudicate under Section 19H has been conferred on the Adjudicating Officer as provided for under Section 19H of the Depositories Act. Section 19-I provides for factors to be taken into account while adjudging quantum of penalty. Section 19-IB provides for recovery of amounts if a person fails to pay penalty imposed under the Act or fails to comply with the directions of disgorgement order issued under Section 19 or fails …
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… However, what is significant is that for a penalty to be imposed under the provisions of Section 19F and 19G, a power to adjudicate under Section 19H has been conferred on the Adjudicating Officer as provided for under Section 19H of the Depositories Act. Section 19-I provides for factors to be taken into account while adjudging quantum of penalty. Section 19-IB provides for recovery of amounts if a person fails to pay penalty imposed under the Act or fails to comply with the directions of disgorgement order issued under Section 19 or fails …
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… or have been initiated and are pending before the Board or any other forum, for the violation of securities laws, under Section 11, Section 11B, Section 11D, sub-Section (3) of Section 12 or Section 15-I of the Act or Section 12A or Section 23-I of the Securities Contracts (Regulation)Act, 1956 or Section 19 or Section 19H of the Depositories Act, 1996, as the case may be." 19. The provisions governing an 'application for settlement; are contained in Regulation 3 of the 2018 Regulations which reads thus:- "CHAPTER II APPLICATION FOR SETTLEMENT Application. 3. (1) A person against whom any specified proceedings have …
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 19H
What does Section 19H of the Depositories Act deal with?
Section 19H of the Depositories Act is headed "Power to adjudicate". For the purpose of adjudging under sections 19A, 19B, 19C, 19D, 19E, [19F, 19FA and 19G, the Board may appoint any officer not below the rank of a Division Chief of the Securities and Exchange Board of India to be an adjudicating officer for holding an inquiry in the prescribed manner after giving a
How do I find court cases under Section 19H 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 19H, section 19H Depositories Act 1996, section 19H 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 19H of the Depositories Act, and has it changed?
Its own text turns on section 19A (Penalty for failure to furnish information, return, etc), section 19B (Penalty for failure to enter into an agreement), section 19C (Penalty for failure to redress investors‟ grievances), section 19D (Penalty for delay in dematerialisation or issue of certificate of securities), and on 2 further provisions, so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently the Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005. (2005).
When did Section 19H of the Depositories Act come into force?
Section 19H of the Depositories Act, cited as Depositories Act 1996 19H, 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
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.