Section 24 in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
24. Right of inspection by the Board.
(1)The Board may appoint one or more persons as inspecting authority to undertake the inspection of the books of account, records and documents of the portfolio manager 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 and regulations are being complied with;(c)to investigate into the complaints received from investors, other portfolio managers or any other person on any matter having a bearing on the activities of the portfolio manager; and(d)to investigate suomotu in the interest of securities business or investors' interest into the affairs of the portfolio manager.
