Procedure for action in case of default provision omitted by subsequent SEBI procedural regulations, removing its operative force. Regulation 30 of the Bankers to an Issue Regulations, 1994 concerned the procedure for action in case of default; the provision was omitted and replaced by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, which removed Regulation 30 from the 1994 framework as notified.
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Provisions expressly mentioned in the judgment/order text.
Procedure for action in case of default provision omitted by subsequent SEBI procedural regulations, removing its operative force.
Regulation 30 of the Bankers to an Issue Regulations, 1994 concerned the procedure for action in case of default; the provision was omitted and replaced by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, which removed Regulation 30 from the 1994 framework as notified.
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