Section 34 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
34. Appointment of Auditor.-
The Board may appoint a qualified auditor to investigate into the books of account or the affairs of the merchant banker:Provided that the auditor so appointed shall have the same powers of the inspecting authority as are mentioned in regulation 29 and the obligations of the merchant banker in regulation 31 shall be applicable to the investigation under this regulation.Explanation:- For the purposes of this regulation the expression "qualified auditor" shall have the same meaning as given in Section 226 of the Companies Act, 1956 (1 of 1956).
