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Directions by the Board

..... 27A - 1[CHAPTER VIIA PROCEDURE IN CASE OF VIOLATION OF REGULATIONS 27A. Without prejudice to the action under section 11, 11A, 11 B, 11D, sub- section (3) of section 12, Chapter VIA and section 24 of the Act or section 439 of the Companies Act, 2013, the Board may suo-motu or upon receipt of information or on completion or pendency of inspection or investigation, in the interests of the securities .....

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..... fter issuing such directions, give an opportunity of being heard to the persons against whom the directions are issued or proposed to be issued: Provided further that if any ex-parte direction is required to be urgent issued, the Board may give post decisional hearing to the affected person: Provided also that where the issuer is a Municipality, the Board may communicate the instances of violation .....

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