Procedure for action in case of default removed from custodian regulations, enforcement shifted to the SEBI enquiry and penalty framework. Regulation 28 of the SEBI (Custodian) Regulations, 1996, which provided the procedure for action in case of default, was omitted by the SEBI (Procedure for holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, thereby replacing the standalone default-procedure framework under the 1996 regulations with the SEBI enquiry and penalty regime as the operative enforcement mechanism.
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.
Procedure for action in case of default removed from custodian regulations, enforcement shifted to the SEBI enquiry and penalty framework.
Regulation 28 of the SEBI (Custodian) Regulations, 1996, which provided the procedure for action in case of default, was omitted by the SEBI (Procedure for holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, thereby replacing the standalone default-procedure framework under the 1996 regulations with the SEBI enquiry and penalty regime as the operative enforcement mechanism.
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