Securities And Exchange Board Of India - Subsection
Section 12(2) in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
(2)Where a merchant banker fails to pay the Annual fees as provided in sub-regulation (1), read with Schedule II, the Board may suspend the registration certificate, whereupon the merchant banker shall cease to carry on any activity as a merchant banker for the period during which the suspension subsists.
