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Regulation 41 - Liability for action in case of default - Securities And Exchange Board of India (Portfolio Managers) Regulations, 2020Extract CHAPTER VI PROCEDURE FOR ACTION IN CASE OF DEFAULT Liability for action in case of default. 41. A portfolio manager who contravenes any of the provisions of the Act, rules or regulations framed thereunder shall be liable for one or more action specified therein including the action under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.
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