Securities And Exchange Board Of India - Subsection
Section 16(3) in Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018
(3)On receipt of such recommendation or suo moto, the Board may take appropriate action against the Administrator or such intermediary or such other person enagaged by the Administrator, under the Act including the following:(a)remove such Administrator from the Panel;(b)forward the matter to the Insolvency and Bankruptcy Board of India for appropriate action against the Administrator who is an Insolvency Resolution Professional; and(c)issue suitable directions restraining such person from engaging in activities in the securities market in his professional capacity.
