Regulation omission: procedure for action in case of default under merchant banker rules removed and no longer operative. Regulation 43, Procedure for Action in Case of Default, in the Merchant Bankers Regulations, 1992 has been omitted by the later procedural regulations of 2002 with the stated effective date, and therefore the specific procedural provision is no longer part of the 1992 regulatory framework, leaving enquiry and penalty mechanisms to be governed by the subsequent regulations.
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.
Regulation omission: procedure for action in case of default under merchant banker rules removed and no longer operative.
Regulation 43, Procedure for Action in Case of Default, in the Merchant Bankers Regulations, 1992 has been omitted by the later procedural regulations of 2002 with the stated effective date, and therefore the specific procedural provision is no longer part of the 1992 regulatory framework, leaving enquiry and penalty mechanisms to be governed by the subsequent regulations.
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 
