Securities And Exchange Board Of India - Subsection
Section 36(1) in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
(1)A penalty of suspension of registration of a merchant banker may be imposed where-(i)the merchant banker violates the provisions of the Act, rules or regulations;(ii)the merchant banker -(a)fails to furnish any information relating to his activity as merchant banker as required by the Board;(b)furnishes wrong or false information;(c)does not submit periodical returns as required by the Board;(d)does not co-operate in any enquiry conducted by the Board;(iii)the merchant banker fails to resolve the complaints of the investors or fails to give a satisfactory reply to the Board in this behalf;(iv)the merchant banker indulges in manipulating or price rigging or cornering activities;(v)the merchant banker is guilty of misconduct or improper or unbusinesslike or unprofessional conduct which is not in accordance with the Code of Conduct specified in Schedule III;(vi)the merchant banker fails to maintain the capital adequacy requirement in accordance with the provisions of regulation 7;(vii)the merchant banker fails to pay the fees;(viii)the merchant banker violates the conditions of registration;(ix)the merchant banker does not carry out his obligations as specified in the regulation.
