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CS Executive · Capital Market and Securities Laws · Securities Market Intermediaries

While exercising its power to call for information and conduct inquiries under Section 11(2)(i) of the SEBI Act, 1992, SEBI wants to summon a broker's partner and examine him on oath. Which provision supports this?

SEBI has the same powers as a civil court under the Code of Civil Procedure, 1908 when exercising its inquiry powers. These include summoning and enforcing attendance of persons and examining them on oath, as provided in Section 11(3) of the SEBI Act.

  1. ASEBI has the same powers as a civil court under the Code of Civil Procedure, 1908, including summoning and enforcing attendance and examining persons on oathCorrect
  2. BSEBI must first apply to a civil court to issue the summons
  3. CSEBI can only request voluntary attendance
  4. DSEBI may summon only listed company directors

Explanation

Section 11(3) gives SEBI, while exercising powers under clause (i) or (ia) of sub-section (2) or sub-section (2A), the same powers as a civil court trying a suit, including summoning and enforcing attendance and examining persons on oath. It is not dependent on a civil court's order.

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