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of <h1>Regulation 15: SEBI Settlement Process Requires Action on High Powered Advisory Committee Recommendations; Rejections Must Be Justified.</h1> Regulation 15 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 outlines the procedure for action on recommendations by the High Powered Advisory Committee. The Panel of Whole Time Members may accept or reject these recommendations. If rejected, reasons must be recorded and communicated to the applicant. If accepted, a notice of demand is issued within seven working days, and the applicant must remit the settlement amount within thirty calendar days via a dedicated payment gateway. If the panel does not accept the settlement terms, the application may be returned for re-examination, following the original application procedure.
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