Regulation 52 - Inspection by the Board - Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021

CHAPTER VII PROCEDURE FOR ACTION IN CASE OF VIOLATION OF REGULATIONS Inspection by the Board 52. (1) The Board may suo-moto or upon information received by it, appoint one or more persons to undertake the inspection of the books of account, records and documents of the issuer or lead manager(s) or any other intermediary associated with the issue, for any of the following purposes, namely, - (a) to verify whether the provisions of the Act, the Companies Act, 2013 (18 of 2013) , Securities Contracts (Regulation) Act, 1956 (42 of 1956) , the Depositories Act,1996 (22 of 1996) and/or the rules and regulations made thereunder in respect of issue of securities have been complied with; (b) to verify whether the requirements in respect of issue of non-convertible securities as specified in these regulations have been complied with; (c) to verify whether the requirements of listing conditions and continuous disclosure requirements have been complied with; (d) to inquire into the complaints received from investors, other market participants or any other persons on any matter of issue and transfer of non-convertible securities governed under these regulations; (e) to inquire into affairs of the issuer in the interest of investor protection or the integrity of the market governed under these regulations; and, (f) to inquire whether any direction issued by the Board has been complied with. (2) While undertaking an inspection under these regulations, the inspecting authority or the Board, as the case may be, shall follow the procedure specified by the Board for inspection of the intermediaries.