Section 25 in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
25. Board's right to inspect or investigate.-
(1)The Board may [suo motu or upon receipt of information or complaint] [Inserted by S.O. 831(E), dated 15.9.2000] appoint one or more persons as inspecting or investigating officer to undertake inspection or investigation of the books of account, records and documents relating to a venture capital fund for any of the following reasons, namely:-(a)to ensure that the books of account, records and documents are being maintained by the venture capital fund in the manner specified in these regulations;(b)to inspect or investigate into complaints received from investors, clients or any other person, on any matter having a bearing on the activities of the venture capital fund;(c)to ascertain whether the provisions of the Act and these regulations are being complied with by the venture capital fund; and(d)to inspect or investigate suo motu into the affairs of a venture capital fund, in the interest of the securities market or in the interest of investors.
