Securities And Exchange Board Of India - Subsection
Section 16(1) in Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018
(1)The Recovery Officer may, for reasons to be recorded in writing, recommend for replacement of the Administrator, in case the Administrator has -(a)failed to comply with the terms and conditions of appointment;(b)engaged valuers or chartered accountants or such other persons who are ineligible to act so;(c)failed to comply with any of the obligations and responsibilities specified under these regulations;(d)acted against the instructions of the Recovery Officer or the Board; or(e)acted in such manner that is prejudicial to the interest of the investors.
