Regulation 25 on Enquiry Procedures for Default by Share Transfer Agents Omitted in 2002.
Regulation 25 of the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, previously outlined the procedure for holding an enquiry in cases of default. It allowed the Board to appoint an enquiry officer, who would issue a notice to the concerned registrar or share transfer agent. The recipient had 30 days to respond with evidence. The enquiry officer would then provide a hearing opportunity, and representation by a lawyer was restricted unless a presenting officer was appointed by the Board. The enquiry officer would submit a report with penalty recommendations. This regulation was omitted in 2002.
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