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of <h1>New Sub-section Empowers SEBI to Review and Enhance Penalties on Erroneous Orders Under Section 15-I of SEBI Act</h1> Section 15-I of the Securities and Exchange Board of India Act, 1992, as amended by the Securities Laws (Amendment) Act, 2014, introduces a new sub-section (3). This provision allows the Board to review and examine proceedings if an adjudicating officer's order is deemed erroneous or not in the best interests of the securities market. The Board can enhance penalties after an inquiry, provided the concerned party is given a hearing. This authority is limited to three months from the adjudicating officer's order or until an appeal under section 15T is resolved, whichever is earlier.
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