Procedure for action in case of default removed from Merchant Bankers Regulations; enforcement moved to SEBI enquiry and penalty rules. Regulation 39 of the Merchant Bankers Regulations, 1992, concerning the procedure for action in case of default, was omitted and its procedural role reassigned to later regulations that govern holding of enquiries and imposition of penalties; the omission transferred procedural supervision from the 1992 instrument to the newer enquiry-and-penalty framework.
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 Merchant Bankers Regulations; enforcement moved to SEBI enquiry and penalty rules.
Regulation 39 of the Merchant Bankers Regulations, 1992, concerning the procedure for action in case of default, was omitted and its procedural role reassigned to later regulations that govern holding of enquiries and imposition of penalties; the omission transferred procedural supervision from the 1992 instrument to the newer enquiry-and-penalty framework.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
