Securities And Exchange Board Of India - Subsection
Section 28(3) in Securities And Exchange Board Of India (Venture Capital Funds) Regulations, 1996
(3)[ The Board may after consideration of the investigation or inspection report and after giving reasonable opportunity of hearing to the venture capital fund or its trustees, directors issue such direction as it deems fit in the interest of securities market or the investors including directions in the nature of:-(a)requiring a venture capital fund not to launch new schemes or raise money from investors for a particular period;(b)prohibiting the person concerned from disposing of any of the properties of the fund or scheme acquired in violation of these regulations;(c)requiring the person connected to dispose of the assets of the fund or scheme in a manner as may be specified in the directions;(d)requiring the person concerned to refund any money or the assets to the concerned investors along with the requisite interest or otherwise, collected under the scheme;(e)prohibiting the person concerned from operating in the capital market or from accessing the capital market for a specified period.]
