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of <h1>Settlement Orders Under SEBI Regulations 2018 Cannot Be Used as Evidence in Unrelated Proceedings or Against Third Parties.</h1> A settlement order under the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, cannot be used as evidence in unrelated proceedings or affect third-party rights related to the alleged default. If an applicant with a settlement order is involved in civil or administrative proceedings with others, the Adjudicating Officer or Board may make necessary observations about the applicant to establish another's actions. However, these observations are subject to the settlement order unless revoked. Additionally, a settlement order with observations regarding another person cannot be used as evidence against that person.
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