Section 29 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
29. Board's right to inspect.-
(1)The Board may appoint one or more persons as inspecting authority to undertake inspection of the books of accounts, records and documents of the merchant banker for any of the purposes specified in sub-regulation (2).(2)The purposes referred to in sub-regulation (1) may be as follows namely: -(a)to ensure that the books of account are being maintained in the manner required;(b)that the provisions of the Act, rules, regulations are being complied with;(c)to investigate into the complaints received from investors, other merchant bankers or any other person on any matter having a bearing on the activities of the merchant banker; and(d)to investigate suo-moto in the interest of securities business or investors interest into the affairs of the merchant banker.
