TMI BlogInvestigationX X X X Extracts X X X X X X X X Extracts X X X X ..... ch intermediary or persons associated with the securities market and to report thereon to the Board. (2) Without prejudice to the provisions of sections 235 to 241 of the Companies Act, 1956 (1 of 1956), it shall be the duty of every manager, managing director, officer and other employee of the company and every intermediary referred to in section 12 or every person associated with the securities market to preserve and to produce to the Investigating Authority or any person authorised by it in this behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power. (3) The Investigating Authority m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor, officer and other employee of any intermediary or any person associated with securities market in any manner, in relation to the affairs of his business and may administer an oath accordingly and for that purpose may require any of those persons to appear before it personally. (6) If any person fails without reasonable cause or refuses- (a) to produce to the Investigating Authority or any person authorised by it in this behalf any book, register, other document and record which is his duty under sub-section (2) or sub-section (3) to produce; or (b) to furnish any information which is his duty under sub-section (3) to furnish; or (c) to appear before the Investigating Authority personally when required to do so under sub-sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he duty of every such officer to comply with such requisition.] (9) After considering the application and hearing the Investigating Authority, if necessary, 4 [the Magistrate or Judge of the Designated Court] may, by order, authorise the Investigating Authority (a) to enter, with such assistance, as may be required, the place or places where such books, registers, other documents and record are kept; (b) to search that place or those places in the manner specified in the order; and (c ) to seize books, registers, other documents and record, it considers necessary for the purposes of the investigation: Provided that 5 [the Magistrate or Judge of the Designated Court] shall not authorise seizure of books, registers, other d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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