Securities and Exchange Board of India (Intermediaries) Regulations, 2008 Chapter V ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE
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Show-cause procedure for default action was omitted after requiring representation, hearing, and expeditious orders on designated authority recommendations. Regulation 28 has been omitted. Under the former procedure, a designated member considered the designated authority's report, issued a show-cause notice ... Summary
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Show-cause procedure for default action was omitted after requiring representation, hearing, and expeditious orders on designated authority recommendations.
Regulation 28 has been omitted. Under the former procedure, a designated member considered the designated authority's report, issued a show-cause notice enclosing that report, and invited the noticee's written representation on proposed action or directions. The noticee could reply within twenty-one days. An appropriate order could be passed after considering the reply and providing an opportunity of hearing, expeditiously and with an endeavour to do so within one hundred and twenty days from receipt of the reply or conclusion of hearing.
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