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 ... Summary
Securities And Exchange Board of India (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) Regulations, 2002
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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.
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