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<h1>SEBI cease-and-desist power to stop violations after inquiry, with special limitation for listed or listing companies.</h1> The Board may, after inquiry, order any person to cease and desist from violating or likely violating the Act, rules or regulations; however, it will not issue such orders against listed public companies or public companies seeking listing (other than specified intermediaries) unless there are reasonable grounds to believe the company has engaged in insider trading or market manipulation.