Depositories Act, 1996
19. Power of Board to give directions in certain cases
Save as provided in this Act, if after making or causing to be made an enquiry or inspection, the Board is satisfied that it is necessary-
(i) in the interest of investors, or orderly development of securities market; or
(ii) to prevent the affairs of any depository or participant being conducted in the manner detrimental to the interests of investors or securities market,
it may issue such directions-
(a) to any depository or participant or any person associated with the securities market; or
(b) to any issuer, as may be appropriate in the interest of investors or the securities market.