Settlement terms may include monetary payment and non monetary measures restricting market access and corporate roles for specified periods. Regulation 9 permits a settlement amount and/or non-monetary terms under Schedule II, directs that settlement proceeds (excluding legal costs and disgorged amounts) be credited to the Consolidated Fund of India, that application fees and legal costs be credited to the SEBI General Fund, and that disgorged profits or avoided losses be credited to the Investor Protection and Education Fund. It enumerates non-monetary options such as suspension of business, exit from management, disgorgement, barring from directorships or market participation, cancellation or reduction of fraudulently issued securities and related restitutions, lock in provisions, compliance enhancements, training, and enhanced audit and reporting.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Settlement terms may include monetary payment and non monetary measures restricting market access and corporate roles for specified periods.
Regulation 9 permits a settlement amount and/or non-monetary terms under Schedule II, directs that settlement proceeds (excluding legal costs and disgorged amounts) be credited to the Consolidated Fund of India, that application fees and legal costs be credited to the SEBI General Fund, and that disgorged profits or avoided losses be credited to the Investor Protection and Education Fund. It enumerates non-monetary options such as suspension of business, exit from management, disgorgement, barring from directorships or market participation, cancellation or reduction of fraudulently issued securities and related restitutions, lock in provisions, compliance enhancements, training, and enhanced audit and reporting.
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