Page 34 - Banking Finance August 2021

ARTICLE

Complaints: Enforcement shall place it before the Committee on
Enforcement and if it is of the view that if the circumstances
Complaint filing authorities and procedures:
so warrant, it may permit the withdrawal at any stage.
1) A complaint may be filed by or on behalf of any Central
or State government which shall be authorized by
persons holding the rank of Joint Secretary or equivalent Investigation procedures of Complaints:
and signed by person who is an Under Secretary or A) The Member- Enforcement shall within 60 days after
equivalent in the Central or State government. receipt of complaint shall:-
2) A complaint filed by Reserve Bank of India (RBI) or 1) in case of complaint against an individual
Securities Exchange Bank of India (SEBI) or any professional, send particulars of acts of commission
Regulator, shall be authorized by an officer holding the or a copy of the complaint to the Professional at
post of Joint Secretary to the Government of India and his professional address.
signed by an officer holding the equivalent post of Under 2) in case of complaints against a firm, send particulars
Secretary or equivalent to the Central or State of the acts of commission to the firm at the
Government. address of its head office as entered last in the

3) A complaint filed by a company, bank or a firm shall be Registrars of Offices and firms maintained by ICAI.
accompanied by a resolution duly passed by the Board B) A member whose name is disclosed by the firm shall be
of Directors of the company or bank or the partners of responsible for answering the complaint
the firm specifically authorizing an officer or a person
to make the complaint on behalf of the company, bank C) A member who has been informed about a complaint
filed against him shall within 21 days and not exceeding
or firm.
30 days of the service of complaint; forward a written
4) Every complaint received by the Office of Committee statement in his defence to the Member- Enforcement.
of Enforcement shall be acknowledged by ordinary post
D) On receipt of the written statement, the Member-
together with an acknowledgment number.
Enforcement shall send a copy to the complainant. The
complainant shall within 21 days not exceeding 30 days
Fees: Any complaint made by any person other than the
Central or State government, company, statutory authority forward to the Member- Enforcement his rejoinder on
the written statement.
shall be accompanied by a fee drawn in the form of a
demand draft on any bank in India in favour of the NFRA E) On persual of the complaint, the respondent's written
payable at a place where the Office of Committee on statement and rejoinder of the complainant, the
Enforcement is situated. Member- Enforcement may call for additional
particulars or documents connected therewith from the
Registration of Complaints:
1) The Member-Enforcement or an officer authorized by
it shall endorse on every complaint the date on which
it is received and shall sign on each such endorsement.
2) The Member-Enforcement shall scrutinize such received
endorsements.
3) After scrutiny, if the complaint is in proper order, it shall
be duly registered and a unique reference number shall
be allotted which has to be quoted in all future
correspondence.

Withdrawal of Complaint:

On receipt of any letter of withdrawal, the Member-

34 | 2021 | AUGUST | BANKING FINANCE