BSE-Adjournment Policy for DAC Meeting
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Adjournment Policy for DAC Meeting
Policy/Procedure to be followed in the proceedings initiated before Disciplinary Action Committee (DAC).


  • Violation/ non-compliance by brokers/ listed companies results in disciplinary action being initiated against them.
  • However, prior to taking any action against brokers/ listed companies, it is necessary to provide them an opportunity of a personal hearing.
  • Some of the matters relating to disciplinary action falls within the jurisdiction of DAC.
  • The proceedings held before DAC are in the nature of quasi-judicial proceedings.
  • It is observed during such proceedings that various concerned aggrieved parties seek adjournment of hearing before DAC from time to time, sometimes on flimsy and frivolous grounds that unnecessarily lead to delay in the proceedings of the matters.
  • The matters that are placed before the DAC requires expeditious disposal without unduly delaying the process of adjudication and at the same time ensuring that adequate opportunity has been granted to the aggrieved parties.
  • In light of the aforementioned, it is imperative that there is a uniform policy/process as far as adjournments are concerned in such proceedings.
  • Accordingly, DAC has decided that, as a policy, only two adjournments shall be granted to the aggrieved party by DAC.
  • The second adjournment shall be granted only if the aggrieved party has made a formal request for an adjournment at least 1 working day prior to the commencement of the scheduled hearing before the DAC.
    Provided that the first adjournment was granted on account of non-appearance at the time of first hearing.