Section 18 in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014
18. Suspension or withdrawal of approval.
- Where any designated depository participant who has been granted approval under these regulations-(a)fails to comply with any conditions subject to which an approval has been granted to him under these regulations;(b)contravenes any of the provisions of the securities laws or directions, instructions or circulars issued thereunder; the Board may, without prejudice to any action under the securities laws or directions, instructions or circulars issued thereunder, by order suspend or withdraw such approval after providing the designated depository participant a reasonable opportunity of being heard.
