Section 15C — Penalty for failure to redress investors‘ grievances

If any listed company or any person who is registered as an intermediary, after having been called upon by the Board in writing 3[including by by any means of electronic communication], to redress the grievances of investors, fails to redress such grievances within the time specified by the Board, such company or intermediary shall be liable to a penalty 4[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].]