Section 11C(1) in The Securities and Exchange Board of India Act, 1992
(1)Where the Board has reasonable ground to believe that—(a)the transactions in securities are being dealt with in a manner detrimental to the investors or the securities market; or(b)any intermediary or any person associated with the securities market has violated any of the provisions of this Act or the rules or the regulations made or directions issued by the Board thereunder,it may, at any time by order in writing, direct any person (hereafter in this section referred to as the Investigating Authority) specified in the order to investigate the affairs of such intermediary or persons associated with the securities market and to report thereon to the Board.
