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.