Section 31 in Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
31. Notice before inspection.
(1)Before ordering an inspection under regulation 30, the Board shall give not less than ten days notice to the Alternative Investment Fund.(2)Notwithstanding anything contained in sub-regulation (1) where the Board is satisfied that in the interest of the investors no such notice should be given, it may by an order in writing direct that the inspection of the affairs of the Alternative Investment Fund be taken up without such notice.(3)During the course of an inspection, the Alternative Investment Fund against whom the inspection is being carried out shall be bound to discharge its obligations as provided in regulation 32.
