Regulation 15 - POWER TO CALL FOR INFORMATION - Securities and Exchange Board of India (Ombudsman) Regulations, 2003

POWER TO CALL FOR INFORMATION 15(1) For the purpose of carrying out his duties under these regulations, an Ombudsman may require the listed company or the intermediary named in the complaint or any other person, institution or authority to provide any information or furnish certified copy of any document relating to the subject matter of the complaint which is or is alleged to be in its or his possession: Provided that in the event of the failure of a listed company or the intermediary to comply with the requisition made under sub-regulation (1) without any sufficient cause, the Ombudsman may, if he deems fit, draw the inference that the information, if provided or copies if furnished, would be unfavourable to the listed company or intermediary. (2) The Ombudsman shall maintain confidentiality of any information or document coming to his knowledge or possession in the course of discharging his duties and shall not disclose such information or document to any person except and as otherwise required by law or with the consent of the person furnishing such information or document: Provided that nothing in sub-regulation (2) shall prevent the Ombudsman from disclosing information or document furnished by a party in a complaint to the other party or parties, to the extent considered by him to be reasonably required to comply with the principles of natural justice and fair play in the proceedings. Provided further that provisions of sub-regulation (2) shall not apply in relation to the disclosures made or information furnished by the Ombudsman to the Board or to the publication of Ombudsman s award in any journal or newspaper or filing thereof before any Court, Forum or authority.