Action against intermediaries permits regulatory proceedings against merchant bankers, registrars and brokers for non-compliance under applicable regulations. Regulation 21 authorises the Board to initiate enforcement proceedings where intermediaries in buy back transactions fail to comply with their obligations or fail to observe due diligence; merchant bankers may be proceeded against under the Merchant Bankers Regulations, and registrars or brokers under the regulations applicable to them.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Action against intermediaries permits regulatory proceedings against merchant bankers, registrars and brokers for non-compliance under applicable regulations.
Regulation 21 authorises the Board to initiate enforcement proceedings where intermediaries in buy back transactions fail to comply with their obligations or fail to observe due diligence; merchant bankers may be proceeded against under the Merchant Bankers Regulations, and registrars or brokers under the regulations applicable to them.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
