Procedure for action in case of default removed from merchant bankers rules; replaced by new enquiry and penalty procedure. Regulation 40 of the Merchant Bankers regulatory framework concerned the procedure for action in case of default, including mechanisms for enquiry and sanction; the provision has been omitted and its functions superseded by a subsequent procedural regulation establishing the enquiry and penalty process.
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Provisions expressly mentioned in the judgment/order text.
Procedure for action in case of default removed from merchant bankers rules; replaced by new enquiry and penalty procedure.
Regulation 40 of the Merchant Bankers regulatory framework concerned the procedure for action in case of default, including mechanisms for enquiry and sanction; the provision has been omitted and its functions superseded by a subsequent procedural regulation establishing the enquiry and penalty process.
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