Securities and Exchange Board of India Act, 1992

26.Cognizance of Offences by courts.-

(1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations made thereunder, save on a complaint made by the Board with the previous sanction of the Central Government.(Cognizance of Offences by courts)

(2) No court inferior to that of Metropolitan Magistrate or a Judicial Magistrate of the first class shall try any offence punishable under this Act.

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