Securities and Exchange Board of India Act : Power to adjudicate. Indian Bare Acts :

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Power to adjudicate.

15-1. Power to adjudicate. (1) For the purpose of adjudging under sections 15A, 15B, 15C, 15D, 15E, 15F, 15G and 15H, the Board shall appoint any officerr not below the rank of a Division Chief to be an adjudicating officerr for holding an inquiry in the prescribed manner after giving any person concerned a reasonable opportunity of being heard for the purpose of imposing any penalty. (2) While holding an inquiry the adjudicating officer shall have power to summon and enforce the attendance of any person acquainted with the facts and circumstances of the case to give evidence or to produce any document which in the opinion of the adjudicating officer, may be useful for or relevant to the subject matter of the inquiry and if, on such inquiry, he is satisfied that the person has failed to comply with the provisions of any of the sections specified in sub- section (1), he may impose such penalty as he thinks fit in accordance with the provisions of any of those sections.