Business Ethics and Corporate Governance, Second Edition

POWER TO ISSUE DIRECTIONS

Under Section 11B of the SEBI Act, the board is empowered to issue directions to the following intermediaries:

• Stock-brokers, sub-brokers, share transfer agent, banker to an issue, trustee of trust deed, registrar to an issue, merchant banker, underwriter, portfolio manager, investment adviser and such other intermediary who may be associated with securities market.
• Depository, depository participant, custodian of securities, foreign institutional investor, credit rating agency or any other intermediary associated with the securities market.
• Sponsors of venture capital funds, or collective investment schemes including mutual funds.
• And to any company with regard to matters to be disclosed by the companies as specified ...