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What is the penalty for non-submission/delayed submission of Internal audit reports?

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posted Jun 21 by Tanmay

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As per exchange Circular No. NSE/INSP/23196, dated April 11, 2013, following shall apply in case of non submission/late submission of Internal Audit Reports by due date.
1. Non submission of internal audit report to the Exchange within 3 month from the due date of submission of the report -Charges of Rs.100/- per day after the due date till the last day of 3rd month or date of submission of report, whichever is earlier.
2.Non submission of internal audit report to the Exchange for more than 3 months from the due date of submission of the report -Charges of Rs.1000/- per day from the end of 3 months from the due date till the date of submission of report.
3.Non submission of Internal Audit Report to the Exchange beyond 6 months from the due date of submission of the report -Disciplinary action as may be decided by the relevant authority which may also include withdrawal of trading facility.

answer Jun 22 by Deepak Jangid
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