Section 4(7) in The Securities Contracts (Regulation) (Procedure For Holding Inquiry And Imposing Penalties By Adjudicating Officer) Rules, 2005
(7)If any person fails, neglects or refuses to appear as required by sub-rule (3) before the [the Board or the adjudicating officer] [Substituted 'adjudicating officer' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).], the [the Board or the adjudicating officer] [Substituted 'adjudicating officer' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).] may proceed with the inquiry in the absence of such person after recording the reasons for doing so.
