Forming an opinion that enquiry is required to be held is mandatory: HC

Sunita Agarwal Vs Securities And Exchange Board of India (Gauhati High Court) Rule 4(3) of Securities and Exchange Board of India (Procedure for holding enquiry and imposing penalties) Rules, 1995  i.e. PR-1995 inter-alia provides that if after considering the cause shown pursuant to the notice under Sub-Rule 1, the adjudicating officer is of the opinion that an enquiry should be held, he may issue a notice fixing a date for appearance of that person either personally or through a lawyer or representative. Further Rule 4(4) provides that on the date so fixed under Rule 4(3), the adjudicating ...