Home Acts & Rules SEBI Regulation Securities and Exchange Board of India (Employees’ Service) Regulations, 2001 Chapters List Chapter VI CONDUCT, DISCIPLINE AND APPEALS This
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Regulation 74 - Employees arrested for debt or on criminal charge - Securities and Exchange Board of India (Employees’ Service) Regulations, 2001Extract Employees arrested for debt or on criminal charge 74. (1) An employee who is arrested for debt or on a criminal charge or is detained in pursuance of any process of law may, if so directed by the competent authority, be considered as being or having been under suspension from the date of his arrest or, as the case may be, of his detention, upto such date or during such other period as the competent authority may direct. In respect of the period in regard to which he is so treated, he shall be allowed the payment admissible to an employee under suspension under sub-regulation (6) of Regulation 86. (2) Any payment made to an employee under sub-regulation (1) shall be subject to adjustment of his pay and allowances which shall be made according to the circumstances of the case and in the light of the decision as to whether such period is to be accounted for as a period of duty or leave; Provided that full pay and allowances will be admissible only if the employee - (a) is treated as on duty during such period; and (b) is acquitted of all blame or satisfies the competent authority, in the case of his release from detention being set aside by a competent court, that he had not been guilty of improper conduct in his detention. (3) An employee shall be liable to dismissal or to any of the other penalties referred to in Regulation 79 if he is committed to prison for debt or is convicted for an offence which, in the opinion of the competent authority, either involves gross moral turpitude or has a bearing on any of the affairs of the Board or on the discharge by the employee of his / her duties with the Board; the opinion in this respect of the competent authority shall be conclusive and binding on the employee. Such dismissal or other penalty may be imposed as from the date of his committal to prison or conviction and nothing in Regulation 80 and 82 shall apply to such imposition. (4) Where an employee has been dismissed in pursuance of sub-regulation (3) and the relative conviction is set aside by a higher court and the employee is acquitted, he shall be reinstated in service. Explanation.-In this Regulation, committal or conviction shall mean committal or conviction by the lowest court or any appellate court. (5) Where the absence of an employee from duty without leave or his overstayal is due to his having been arrested for debt or on a criminal charge or to his having been detained in pursuance of any process of law, the provisions of Regulation 60 shall also apply and for the purposes of that Regulation as so applied, the employee shall be treated as having absented himself without leave or, as the case may be, overstayed, otherwise than under circumstances beyond his control.
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