Section 21 in Securities and Exchange Board of India (Custodian) Regulations, 1996
21. Board's right to inspect.
(1)The Board may appoint one or more persons as inspecting officer to undertake inspection of the hooks of account, records and documents of the [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).] for any of the following purposes, namely-(a)to ensure that the books of account, records and documents are being maintained by the [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).] in the manner specified in these regulations;(b)to investigate into complaints received from investors, clients or any other person, on any matter having a bearing on the activities of the [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).];(c)to ascertain whether the provisions of the Act and these regulations are being complied with by the [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).]; and(d)to investigate suo motu into the affairs of the [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).] in the interest of the securities market or in the interest of investors.
