Regulation omission removes procedure for action in case of default under bankers-to-an-issue rules, superseded by procedural regulations. Regulation 31 of the SEBI (Bankers to an Issue) Regulations, 1994-concerning the procedure for action in case of default-has been omitted; the omission withdraws the specific default-procedure framework in that instrument and delegates enforcement, enquiry, and penalty functions to subsequent procedural regulations.
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Provisions expressly mentioned in the judgment/order text.
Regulation omission removes procedure for action in case of default under bankers-to-an-issue rules, superseded by procedural regulations.
Regulation 31 of the SEBI (Bankers to an Issue) Regulations, 1994-concerning the procedure for action in case of default-has been omitted; the omission withdraws the specific default-procedure framework in that instrument and delegates enforcement, enquiry, and penalty functions to subsequent procedural regulations.
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