Section 35 in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
35. Liability for action in case of default.
(1)An Alternative Investment Fund which-(a)contravenes any of the provisions of the Act or these regulations;(b)fails to furnish any information relating to its activity as an Alternative Investment Fund as required by the Board;(c)furnishes to the Board information which is false or misleading in any material particular;(d)does not submit periodic returns or reports as required by the Board;(e)does not co-operate in any enquiry, inspection or investigation conducted by the Board;(f)fails to resolve the complaints of investors or fails to give a satisfactory reply to the Board in this behalf,shall be dealt with in the manner provided under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.(2)Sub-regulation (1) shall not prejudice the powers of the Board to issue directions or measures under regulation 34 or under sections 11, 11B, 11D, sub-section (3) of section 12 or section 24 or Chapter VIA of the Act or under any other law for the time being in force.
