Section 4(7) in Securities Contracts (Regulation) (Procedure For Holding Inquiry and Imposing Penalties) Rules, 2005
(7)If any person fails, neglects or refuses to appear as required by sub-rule (3) before the [the Board or the adjudicating officer] [Substituted 'adjudicating officer' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).], the [the Board or the adjudicating officer] [Substituted 'adjudicating officer' by Notification No. G.S.R. 212(E), dated 8.3.2019 (w.e.f. 11.4.2005).] may proceed with the inquiry in the absence of such person after recording the reasons for doing so.
