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<h1>SEBI empowers board to issue directions and levy penalties under Section 11B after conducting inquiries</h1> Section 11B of the Securities and Exchange Board of India Act, 1992 empowers the regulatory board to issue directions and levy penalties after conducting inquiries. The board may issue directions to intermediaries, persons, or companies associated with securities markets when necessary for investor protection, orderly market development, or preventing detrimental conduct. The provision includes power to direct disgorgement of wrongful gains or losses averted through contraventions. Additionally, the board can levy penalties under specified sections after holding prescribed inquiries, with reasons recorded in writing.