(1) It shall be the duty of the trustee or Collective InvestmentManagement Company whose affairs are being 32 inspected or investigated,and of every director, officer and employee thereof, to produce such books,accounts, records, and other documents in its custody or control and furnishhim such statements and information relating to the activities as trustee orCollective Investment Management Company, as the inspecting officer mayrequire, within such reasonable period as the inspecting officer may specify.
(2) The trustee or Collective Investment Management Company shall allowthe inspecting officer to have a reasonable access to the premises occupiedby it or by any other person on its behalf and also provide necessaryinfrastructure for examining any books, records, documents, and computerdata in the possession of the trustee and Collective Investment ManagementCompany or such other person and also provide copies of documents orother materials which in the opinion of the inspecting officer are relevant forthe purpose of the inspection.
Submission of report to the Board
55. The inspecting officer shall, on completion of the inspection orinvestigation, submit a report to the Board :
Provided that if directed to do so by the Board, he shall submit interim reportsalso.
173 Action on inspection or investigation report
56. The Board or the Chairman shall after consideration of inspection orinvestigation report take such action as the Board or Chairman may deem fitand appropriate including action under 174 Chapter V of the Securities andExchange Board of India (Intermediaries) Regulations, 2008].]
Appointment of Auditor and recovery of expenses