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<h1>SEBI Can Act on Its Own to Protect Market Under Regulation 28; Includes Halting Issuances and Freezing Transfers.</h1> Regulation 28 of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, outlines the Board's authority to issue directions in case of regulatory violations. The Board can act suo-motu or based on information, inspection, or investigation to protect the securities market. Possible actions include ordering issuers to refund application monies, restricting securities dealings, barring market access, halting further securities issuance, mandating securities divestment, and freezing securities transfers. The Board must provide an opportunity for a hearing to affected parties, either before or after issuing directions, with post-decisional hearings for ex-parte orders.