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<h1>SEBI Empowers Auditors to Investigate Merchant Bankers Under Regulation 34; Aligns with Companies Act 2013 Amendments</h1> The Securities and Exchange Board of India (SEBI) under Regulation 34 of the Merchant Bankers Regulations, 1992, allows the Board to appoint a qualified auditor to investigate the books or affairs of merchant bankers. The appointed auditor holds the same powers as the inspecting authority per regulation 29, and the obligations of the merchant banker under regulation 31 apply to such investigations. The term 'qualified auditor' refers to the definition provided in section 141 of the Companies Act, 2013. Recent amendments have updated references from the Companies Act, 1956 to the Companies Act, 2013.