(1) The documents seized shall be transmited in safe manner to the place of custody.
(2) The authorised officer who is not the Investigating Authority, shall hand over the documents seized along with the seizure memo to the Investigating Authority.
(3) The Investigating Authority shall keep in his custody the books, registers, other documents and records seized under these regulations for such period not later than the conclusion of the investigation as he considers necessary.
Provided that such books, registers, other documents and records shall not be retained by the Investigating Authority for a period exceeding one hundred and eighty days from the date of seizure, except with the approval of the Chairman.
(4) The authorised officer or the Investigating Authority, as the case may be, shall ensure that records in physical form are not altered, damaged, mutilated, and the records in electronic form is not altered or erased.
(5) The authorised officer or the Investigating Authority, as the case may be, shall ensure that the physical documents and electronic storage devices on which electronic records are stored, are maintained and stored in suitable physical and environmental conditions.
Return of documents.
22.(1) The Investigating Authority shall return the documents kept under regulation 21 to the company or the other body corporate, or, as the case may be, to the managing director or the manager or any other person from whose or custody or power they were seized:
Provided that the Investigating Authority may, before returning such books, registers, other documents and record as aforesaid, place identification mark on them or any part thereof.
(2) Any personal information severable from any document seized and kept in accordance with these regulations shall be returned by the Investigating Authority to the person to whom such information relates on a written request being made in this behalf by him.
Protection of personal information.
23. The personal information contained in any document seized and kept in accordance with these regulations shall not be divulged to any third person, except for the 11 compliance of any law for the time being in force, without the consent of the person to whom the information relates.
Retention of forensic copy.
24. Notwithstanding anything contained in regulation 22 of these regulations, -
(a) the forensic copy of the data or mirror image of the storage device and any copy thereof may be retained, on being satisfied that such data or image has evidentiary value.
(b) any copy made or generated from any other documents seized in accordance with these regulations may be retained.
CHAPTER VI MISCELLANEOUS Liability for non-compliance of obligations.
25. Without prejudice to any action under any law for the time being in force,
(a) any intermediary who fails to comply with any of the obligations while execution of warrant of authority, shall be liable for any one or more of the following actions:
i. adjudication under section 15HB of the Act;
ii. proceedings under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008;
iii. prosecution under section 24 of the Act;
(b) any person other than an intermediary who fails to comply with any of the obligations while execution of warrant of authority, shall be liable for any one or more of the following actions:
i. adjudication under section 15HB of the Act;
ii. action under section 11B and sub-section (4) of section 11 of the Act;
iii. prosecution under section 24 of the Act.
Power to remove difficulties.
26. In order to remove any difficulties in the interpretation or application of the provisions of these regulations, the Board may issue guidance or circulars.
12
SCHEDULE FORM-A [See regulation 3] Request seeking the issuance of warrant of authority.
In the matter of ....
Whereas a notice under section 11C(3) of the Securities and Exchange Board of India Act, 1992 has been issued, [name of the person] on [date] by the undersigned, to produce, or cause to be produced, books of account or other documents specified in the relevant summons or notice and he/she/they has/have omitted or failed to produce, or cause to be produced, such books of account or other documents which will be useful for, or relevant to proceedings under Securities Laws required by such notice, he/she/they would not produce, or cause to be produced, or would destroy, mutilate, alter, falsify or secrete such books of account or information or other documents as required by such summons or notice or relevant to, the investigation; or Whereas a notice under section 11C(3) of the Securities and Exchange Board of India Act, 1992 might be issued to ________________[name of the person] by the undersigned, to produce, or cause to be produced, books of accounts or other documents which will be useful for, or relevant to, proceedings under securities laws and he/she/they would not provide the information, or, produce documents, which shall be useful for, or relevant to, the investigation;
And whereas I have reason t o believe that such books of accounts, other documents, have been kept and are to be found ____________________________ (specify particulars of the building/place/vessel/vehicle/aircraft or such details which would locate such building/place or such details which would identify such vessel/vehicle/aircraft), a warrant of authority may be issued to
1. ---------------------------------------(name and designation of Authorised Officer)
2. ---------------------------------------(name and designation of Authorised officer)
3. ---------------------------------------(name and designation of Authorised officer)
(a) to enter and search, with such assistance, as may be required, the said building or place or vessel or vehicle or aircraft;
(b) to break open the lock of any door, box, locker, safe, almirah or other receptacle for exercising powers conferred under the Act and these Regulations, where the keys thereof are not available;
(c) to search any person who has got out of, or is about to get into, or is in the 13 building or place or vessel or vehicle or aircraft, if Authorised officer/s have reason to suspect that such person has secreted about his person any such books of accounts or other documents;
(d) require any person who is found to be in possession or control of any books of accounts or other documents, maintained in the form of electronic record, to provide the Authorised officer the necessary facility to inspect such books of accounts or other documents;
Explanation.-For the purposes of this clause, the expression "electronic record" shall have the meaning assigned to in clause (t) of sub-section(1) of section (2) of the Information Technology Act, 2000;
(e) to seize any such books of accounts or other documents found as a result of such search and relevant or useful for the investigation and take possession thereof and to make a list hereof together with particulars;
(f) to place mark of identification on books of accounts or other documents or cause to be made extracts or copies therefrom;
(g) record on oath the statement of any person who is found to be in possession or in control of the information or documents referred to in subclause (i), (iii) and (iv) of section 11C(8) of the Act.
(h) to conduct the search during daytime, or at night(if there are grounds for suspecting that the object of the warrant would be defeated);
(i) to conduct multiple execution ;
(j) to exercise the powers conferred in this warrant of authority as per the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014 Date Signature The Investigating Authority.
Securities and Exchange Board of India FORM-B [See regulation 4] Warrant of authority under sub-section (8) of section 11C of the SEBI Act, 1992 and regulation 4 of Securities and Exchange Board of India (Procedure for Search and Seizure) Regulations, 2014 In the matter of ...
Whereas information has been laid before me and on the consideration thereof I have reason to believe that, – a notice under section 11C(3) of the Securities and Exchange Board of India Act, 1992 has been issued to, [name of the person] on [date] by the 14 Investigating Authority, to produce, or cause to be produced, books of accounts or other documents specified in the relevant summons or notice and he/she/they has/have omitted or failed to produce, or cause to be produced, such books of accounts or other documents which will be useful for, or relevant to proceedings under Securities Laws required by such notice, he/she/they would not produce, or cause to be produced, or would destroy, mutilate, alter, falsify or secrete such books of accounts or information or other documents as required by such summons or notice or relevant to, the investigation; or a notice under section 11C(3) of the Securities and Exchange Board of India Act, 1992 might be issued to ________________[name of the person] by the Investigating Authority, to produce, or cause to be produced, books of accounts or other documents which will be useful for, or relevant to, proceedings under securities laws and he/she/they would not provide the information, or, produce documents, which shall be useful for, or relevant to, the investigation;
And whereas I have reason to suspect that such books of accounts, other documents, have been kept and are to be found ____________________________ (specify particulars of the building/place/vessel/vehicle/aircraft or such details which would locate such building/place or such details which would identify such vessel/vehicle/aircraft);
And whereas being satisfied that it is necessary to issue a warrant of authority, this warrant of authority is issued to,-
4. ---------------------------------------(name and designation of Authorised Officer)
5. ---------------------------------------(name and designation of Authorised officer)
6. ---------------------------------------(name and designation of Authorised officer)
(a) to enter and search, with such assistance, as may be required, the said building or place or vessel or vehicle or aircraft;
(b) to break open the lock of any door, box, locker, safe, almirah or other receptacle for exercising powers conferred under the Act and these Regulations, where the keys thereof are not available;
(c) to search any person who has got out of, or is about to get into, or is in the building or place or vessel or vehicle or aircraft, having reason to suspect that such person has secreted about his person any such books of accounts or other documents;
(d) require any person who is found to be in possession or control of any books of accounts or other documents, maintained in the form of electronic record, to provide you the necessary facility to inspect such books of accounts or other documents;
Explanation.-For the purposes of this clause, the expression "electronic record" shall have the meaning assigned to in clause (t) of sub-section(1) of section (2) of the Information Technology Act, 2000;
(e) to seize any such books of accounts or other documents found as a result of such search and relevant or useful for the investigation and take possession thereof and to make a list hereof together with particulars;
(f) to place mark of identification on books of accounts or other documents or 15 cause to be made extracts or copies therefrom;
(g) record on oath the statement of any person who is found to be in possession or in control of the information or documents referred to in subclause (i), (iii) and (iv) of section 11C(8) of the Act;
(h) to conduct the search during the daytime, or at night(if there are grounds for suspecting that the object of the warrant would be defeated);
(i) to conduct multiple execution;
(j) to exercise the powers conferred in this warrant of authority as per the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014.
You may requisition the services of any police officer or any officer of the Central Government or State Government, or of both, to assist you for all or any of the purposes specified in the warrant of authority. The warrant shall be executed on or before...............
The occupant of the building, place, vessel, vehicle or aircraft searched, including the person in charge of such vessel, vehicle or aircraft, shall have the right,- a) to see the sealed warrant of authority duly signed by the Chairman and to obtain a copy of such warrant of authority;
b) to verify the identity of the officials assisting the authorised officer;
c) to attend during the search and seizure operation;
d) to have a copy of the seizure memo prepared under regulation 12 be delivered to any person from whose possession or control the documents are seized;
e) to have copy of seized document, or take extracts therefrom, in the presence of the authorised officer or any other person empowered by him in this behalf, at such place and reasonable time as the authorised officer may appoint in this behalf;
f) to have a copy of any statement recorded during search and seizure;
g) to put his own mark of identification on the documents seized on recording the description of the such mark of identification.
Date The Chairman Securities and Exchange Board of India Seal Form-C (See regulation 13) ORDER UNDER PROVISO TO REGULATION 13 OF SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR SEARCH AND SEIZURE) REGULATIONS, 2014 By virtue of powers vested in me under the warrant of authority dated _____________ issued by the Chairman, Securities and Exchange Board of India, in exercise of his 16 powers under section 11C(8) of the Securities and Exchange Board of India Act, 1992 read with regulation 4 of the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014, I, ______________________________________[Name of the authorised officer] hereby order you not to remove, part with or otherwise deal with the articles mentioned below without my previous permission.
Details of Articles
1.
2.
3.
4.
5.
Seal Signature of the authorised officer Name Full Designation Telephone Number Date: Time:
Contact address:
To Copy to: 1.
2.
Form-D (See regulation 13) ORDER UNDER PROVISO TO REGULATION 13 OF SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR SEARCH AND SEIZURE) REGULATIONS, 2014 To Shri/M/s.
Whereas in terms of warrant of authority issued by Chairman, Securities and Exchange Board of India, in exercise of his powers under section 11C(8) of the Securities and Exchange Board of India Act, 1992 read with regulation 4 of the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014, I have been authorised to seize books of accounts, other documents or other relevant records/articles found as a result of search at premises 17 __________________________________________________________________ owned/occupied by _______________________________________________________ and whereas I am of the opinion that it is not possible/practicable to take physical of the books of accounts other documents or other relevant records/articles mentioned in the observe due to _________________________________________________________________, I in exercise of the authority conferred on me by regulation 13 of the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014, hereby order you not to remove, part with or otherwise deal with the books of accounts other documents or other relevant records/articles mentioned in the observe without my previous permission in writing.
The service of this order tantamount to deemed seizure of the books of accounts other documents or other relevant records/articles under proviso to regulation 13 of the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations,
2014.
Signature of the authorised officer 18 Form-E (See regulation 14) SEIZURE MEMO- LIST / INVENTORY OF BOOKS ETC., FOUND / SEIZED Page Date of search
1. Name and designation of authorised officers
(a) Leader of the search party
(b) Other Authorised Officers
2. (a) Warrant of Authority in the case:
(i) Name:
(ii) Address:
( b) Details of premises searched:
(i) Description and address:
(ii) Claimed to be belonging to
3. Details of the persons searched
(i) Identity of the persons
(ii) Address of the persons
4. Date and Time of search operation:
(a) Search Operations commenced on ………………. at………………hrs.
(b) Search Operations concluded on ………………..at…………………hrs.
5. Details of the officers present at the time of seizure
6. Details of the other persons present, if any at the time of seizure
7. Particulars of Seizure:
8. Important events and salient features of the search 19 List of books / registers / other documents / record etc. found / seized in the case of M/s. / Shri/Smt at Sr.
No.
Description Total Pages Written Pages Period written for Pages on which identification mark From To placed Total No. of Items of books of accounts, Specimen mark of identification documents, etc. on this Page placed in various pages listed out Total up to this Page The description of the identification mark placed by the persons as per reg 12 (2) (h) of these Regulations Signature of Panchas Signature of Authorised officer (with name and designation) 1.
2. 2.
(With Thump Impression) Signature of Persons under reg. 12 (2) (i) and/or (j) of these Regulations 20 Form-F (See regulation 14) Part-A SEIZURE MEMO-COMPUTER/PHYSICAL STORAGE DEVICE
1. Name of party :
2. Place :
3. Computer System :a) (PC/Mini/Main Frame/Other) b)(Standalone/LAN/Multiuser/Other)
4. Configuration of the Machine a) No. of Hard Disk :
b) Capacity of Hard Disk :
(20 MB/40MB/Other)
5. Number of Computers and Terminals for each Computer Found:
6. Back up device used by the party : (Floppies/Tape/Other)
7. Name of the supplier of the machine:
8. Type of Machine:(PC/XT/AT386/AT586/Other)
9. Operating System:(WINDOWS/DOS/LINK/XENIX/Other)
10. Version of the Operating System:
11. Software Packages being used:(Wordstar/Lotus/D-Base/Fox Base/Self Developed Softwares/Other)
12. Supplier of Software Packages used by the Party:
13. Passwords 1) Log-in Password :
2) Master Password :
3) Other Password :
14. Nature of Data File : (Wordstar/Lotus/D-Base/Fox Base/Other)
15. Nature of transactions in Data File : (Accounts/Letters/Operations/Research/Other):
16. Number of Floppies/Cartridges/Tapes Found:
17. Name of the Persons Operating the Computer:
Part-B REPORT ON COMPUTER DATA BACKED UP
1. Name of Party : _____________________________________________ _____________________________________________
2. Place :
3. Description of Hard Diskes, Backup : ______________________________________________ Id. No.
Of computer Total Capacity Capacity of each Drive Memory used in each Drive Memory Packed up from each Drive Remarks
4. Starting Time Closing Time Duration Remarks _________ _________ _______ ________
5. Brief report on backing process of each Hard Disk :- (Directory Listing of the whole Hard Disk, Command used for backing up, Version of the 21 operating system, problem faced if any during backing up etc. should be mentioned in this report.)
_____________________________________________________________________________ _____________________________________________________________________________ __________________________________________________________________________ ______________________ _______________________ ( ) ( ) Computer Personnel Authorised Officer Signature of Panchas Signature of Authorised officer (with name and designation) 1.
2. 2.
(With Thump Impression) Signature of Persons under reg. 12 (2) (i) and/or (j) of these Regulations FORM-G PANCHNAMA (See regulation 18) [To be prepared in duplicate] Party No.
[A] Warrant in the case of :
[B] Warrant to search : [Details & Ownership of place of search] Telephone Numbers.
[C] Search party consisting of :
Authorised officers Name Full Designation
1.
2.
3.
4.
5.
Other officials who assisted the authorised officers
6.
7.
8.
9.
[D] Name and complete address of Panchas:
1. 2.
On being called by Shri. __________on __________ at __________a.m. /p.m.
we, the above named panchas, presented ourselves at the above place of search. The 22 authorised officer, Shri __________ showed the warrant of authority dated__________ issued under issued in case of [A] above to search the place mentioned at [B] above and duly signed by the Chairman, Securities and Exchange Board of India, Mumbai to Shri/Smt. __________ who was present in the said place the time and who after reading the said authorisation/after the authorisation was explained in local language viz., __________ by Shri/Smt. __________ signed it in our presence and along with us, in token of having perused the same.
2. As today’s search was in continuance of the proceedings on __________ we along with the aforesaid authorised officers before the commencement of proceedings today inspected the seals which had placed on that date and found them to be intact/tampered with as narrated in the enclosures.
3. The Above mentioned search party offered themselves for personal search before commencing the search which was taken / declined.
4. A search of the above mentioned place was carried out by the said party in our presence in an orderly manner without hurting the sentiments of any of the occupants of premises.
5. In the course of the search,
(a) The following were found and seized:
Books of accounts/register/other documents/records, etc., as per annexure ‘A’(___________Sheets)
(b) The following were found but not seized :
(i) Books of accounts and documents as per annexure Marks of identification were placed on these and the specimen of the marks and the pages where these have been are shown in the inventory prepared viz. Annexure 1.
6. In the course of the search, the authorised officer Shri______________________________ recorded the statement(s) of Shri_______________________________________________ on solemn affirmation/oath, in our presence No. coercion, threat, inducement, promise or other undue influence was brought to bear on the above deponent. The statement was read over/explained in the local language viz., ____________ to the deponent, who signed the statement in token of having understood its contents and of agreeing that it had been correctly recorded.
7. The following other important persons were present in the place of search and either took an active part in or helped the search proceedings.
Name Relationship
8. The Search commenced on ___________ at ___________ a.m./p.m the proceedings were closed on ___________ at a.m/p.m. as finally concluded/as temporarily concluded for the day to be commenced subsequently for which purpose seal was placed on the entire place/on ___________ in our presence.
23
9. An order under regulation 14 of the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014 in respect of the sealed premises/___________________as served on Shri/Smt.__________________________ by the said authorised officers.
10. Before leaving the above mentioned placed of the search the entire search party again offered themselves for personal search which was taken/declined. The above panchanama has been read by us/ explained to us in local language __________ by Shri/Smt. _____________________ and is certified that it has been correctly recorded.
Signature of the Panchas with dates.
1. _________________________ 2._________________________ Signature of the Signature of the person receiving the copy authorised officer of the panchnama Name : Name Designation: Position in/relationship to ‘A’ Date : Seal Date :
24 PROFORMA FOR REQUISITIONING POLICE ASSISTANCE FOR SEARCH ACTION [See Regulations 8(4), 9(7) and 10(2)] Date:
The Commissioner of Police/Superintendent of Police …… … … … … … … … … … … .
…… … … … … … … … … … … .
Sir,
1. The Securities and Exchange Board of India is contemplating taking certain action under section 11C (8) of the SEBI Act, 1992 and applicable provisions of the Code of Criminal Procedure, 1973 r/w section 11C(11) of the SEBI Act, 1992. As the place proposed to be covered is in a sensitive locality and it is apprehended that the person occupying the premises may offer resistance, I am to request you to kindly make available police assistance to SEBI personnel carrying out the above duties.
2. ...................Sub Inspectors, ...............Head Constables and ................... all armed, may kindly be instructed to report to................... Shri ...................( name and designation) on................... at .................. (place). at ................... (time ) for necessary action
3. Kindly treat this information as very confidential.
(Name and Designation) of Delegated Authority.
At… … … … … … … … … … … … (place) Date … … … … … … … … … … … U. K. SINHA CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA