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Question

Pending investigation or inquiry, the Board may attach the bank accounts of any person associated in violation of any provisions of the Act for a maximum period of

A 60 days Correct Answer Incorrect Answer
B 90 days Correct Answer Incorrect Answer
C 1 month Correct Answer Incorrect Answer
D 45 days Correct Answer Incorrect Answer
E 2 months Correct Answer Incorrect Answer

Solution

Section 11(4) (e) of SEBI Act (e)attach, for a period not exceeding ninety days, bank accounts or other property of any intermediary or any person associated with the securities market in any manner involved in violation of any of the provisions of this Act, or the rules or the regulations made thereunder: Provided that the Board shall, within ninety days of the said attachment, obtain confirmation of the said attachment from the Special Court, established under section 26A, having jurisdiction and on such confirmation, such attachment shall continue during the pendency of the aforesaid proceedings and on conclusion of the said proceedings, the provisions of section 28A shall apply:

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