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of <h1>Central Government May Grant Conditional Immunity Under Securities Contracts Act on SEBI's Recommendation; Immunity Can Be Revoked.</h1> The Central Government, upon recommendation by the Securities and Exchange Board of India (SEBI), may grant immunity from prosecution or penalties under the Securities Contracts (Regulation) Act, 1956, to individuals who fully disclose alleged violations. Immunity is conditional and cannot be granted if prosecution proceedings have already begun before the application for immunity. SEBI's recommendation is not binding on the government. Immunity can be withdrawn if conditions are not met or false evidence is provided, allowing prosecution and penalties to be imposed as if immunity had not been granted.
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