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of <h1>Individuals Can Settle Securities Proceedings with SEBI Under Section 23JA; Decisions Are Final and Non-Appealable.</h1> Section 23JA of the Securities Contracts (Regulation) Act, 1956 allows individuals facing or potentially facing proceedings under sections 12A or 23-I to apply for settlement with the Securities and Exchange Board of India (SEBI). The Board can agree to a settlement based on the nature and impact of the defaults, requiring payment or other terms as per SEBI regulations. The settlement procedure follows the Securities and Exchange Board of India Act, 1992, and decisions made under this section are not subject to appeal under section 23L. Settlement amounts, excluding disgorgement and legal costs, are credited to the Consolidated Fund of India.
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