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          <h1>Settlement Orders Stand Despite Procedural Defects; Revocation Possible for Non-Compliance Under Regulation 31 SEBI Settlement Regulations 2018.</h1> Regulation 31 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, states that a settlement order or rejection of a settlement application cannot be invalidated due to procedural defects or committee constitution issues. However, the Board may revoke a settlement order if the applicant fails to pay discrepancies in settlement terms. Applicants remain bound by waivers related to legal proceedings and specified undertakings. The regulation clarifies that the power to seek differences includes profits gained or losses avoided from violations under specified proceedings.

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