Enquiry procedure for bankers to an issue formerly required notice, response, hearing, representation rules, and penalty recommendations. Before omission, Regulation 27 required an enquiry officer to serve notice on a banker to an issue, permit a supported reply within thirty days, and ... Summary
Securities And Exchange Board of India (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) Regulations, 2002
Enquiry procedure for bankers to an issue formerly required notice, response, hearing, representation rules, and penalty recommendations.
Before omission, Regulation 27 required an enquiry officer to serve notice on a banker to an issue, permit a supported reply within thirty days, and provide a reasonable hearing before suspension or cancellation. Representation through an authorised person was allowed, while legal representation was generally barred unless the Board appointed a lawyer or advocate as presenting officer. The enquiry officer could seek appointment of a presenting officer and was required to report to the Board with a recommended penalty and supporting grounds.
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