Section 92 in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
92. Liability for action in case of default.
- Without prejudice to the power of the Board to take action, under the provisions of the Act and the Depositories Act, if a depository or a participant:-(a)contravenes any of the provisions of the Act, the Depositories Act, the bye-laws, agreements and these regulations;(b)fails to furnish any information relating to its activity as a depository or participant as required under these regulations;(c)does not furnish the information called for by the Board under clause (a) of sub-section (1) of section 18 of the Depositories Act or furnishes information which is false or misleading in any material particular;(d)does not co-operate in any inspection or investigation or enquiry conducted by the Board;(e)fails to comply with any direction of the Board issued under section 18 of the Depositories Act;(f)fails to pay the annual fee referred to in regulation 8, shall be dealt with in the manner provided under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.
