Securities And Exchange Board Of India - Subsection
Section 26(2) in Securities and Exchange Board of India (Underwriters) Regulations, 1993
(2)A penalty of cancellation of certificate granted to an underwriter or a certificate of registration granted under section 12 of the Act to a stock broker or a merchant banker entitled to carry on the business of underwriting under rule 3, may be imposed where they.(i)indulge in deliberate manipulation or price rigging or cornering activities affecting the securities market and the investors interest;(ii)fail to fulfil the capital adequacy referred to in regulation 7;(iii)are guilty of fraud, or is convicted of a criminal offence;(iv)violate any provision of Securities and Exchange Board of India (Insider Trading) Regulations, 1992; or(v)violate the provisions of the Act, rules and regulations;(vi)fails to fulfil more than once their underwriting obligations.
