Section 16 in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
16. Action against intermediaries.
- The Board may, on failure of the merchant banker to comply with the obligations under these regulations or failing to observe due diligence in respect of valuation of intellectual property or value addition, initiate action against merchant banker in terms of Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992.
