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of <h1>Amendment to SEBI Act 1992: Section 11(4)(e) Updated for Asset Attachment, New Explanation in Section 28A on Interest Accrual</h1> The amendment to the Securities and Exchange Board of India Act, 1992, modifies section 11, sub-section (4), clause (e), allowing the attachment of bank accounts or property of any intermediary or person associated with the securities market for up to ninety days if involved in violations. This attachment requires confirmation from a Special Court within ninety days and can continue during ongoing proceedings, with section 28A provisions applying post-proceedings. Additionally, a new Explanation 4 is added to section 28A, specifying that interest under section 220 of the Income-tax Act, 1961, begins accruing from when the amount becomes payable.
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