Section 41 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
41. Effect of suspension and cancellation of registration of merchant banker.-
(1)On and from the date of the suspension of the merchant banker he shall cease to carry on any activity as a merchant banker during the period of suspension.(2)On and from the date of cancellation the merchant banker shall with immediate effect cease to carry on any activity as a merchant banker.
