Securities And Exchange Board Of India - Subsection
Section 26(5) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(5)The managing director shall be liable for removal or termination of services by the governing board of the depository with the prior approval of the Board for failure to give effect to the directions, guidelines and other orders issued by the Board, or the rules, instructions, the articles of association and bye-laws of the depository.
