Question
What is the penalty for contravention of Depository Act
when no separate penalty has been provided?Solution
Section 19G of Depository Act - Penalty for contravention where no separate penalty has been provided—Whoever fails to comply with any provision of this Act, the rules or the regulations or bye-laws made or directions issued by the Board thereunder for which no separate penalty has been provided, shall be liable to a penalty which shall not be less than one lakh rupees but which may extend to one crore rupees
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