Summary proceedings allow expedited cancellation or suspension of intermediary registration with written-only response and no personal hearing. Summary proceedings enable expedited cancellation or suspension of an intermediary's registration upon specified triggers; the competent authority issues a notice of grounds and alleged violations, requires written submissions with documentary evidence within a short timeframe (with a single discretionary extension), and grants no personal hearing. After considering materials and submissions, the authority will promptly pass an order to cancel, suspend or impose other conditions, including protective measures for investor records, redressal, transfer of client assets, continuity of service and liabilities. Orders are communicated to the noticee and relevant market infrastructure and uploaded publicly.
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.
Summary proceedings allow expedited cancellation or suspension of intermediary registration with written-only response and no personal hearing.
Summary proceedings enable expedited cancellation or suspension of an intermediary's registration upon specified triggers; the competent authority issues a notice of grounds and alleged violations, requires written submissions with documentary evidence within a short timeframe (with a single discretionary extension), and grants no personal hearing. After considering materials and submissions, the authority will promptly pass an order to cancel, suspend or impose other conditions, including protective measures for investor records, redressal, transfer of client assets, continuity of service and liabilities. Orders are communicated to the noticee and relevant market infrastructure and uploaded publicly.
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