Regulation 37 empowers the Board to introduce settlement schemes prescribing settlement terms for classes of persons involved in similar specified defaults. A settlement order issued under such a scheme is deemed to be a settlement order under the governing settlement framework.

Every settlement order in administrative and civil proceedings must be formally served on the applicant and published on the Board's website. The process therefore requires both direct notice to the settlement applicant and public online availability of the order, as mandatory procedural components of the settlement-order process for all settlement orders.

Regulation 35 applies the settlement framework for specified proceedings, with necessary modifications, to applications seeking settlement of proceedings pending before the Tribunal or Supreme Court, unless the Regulations otherwise provide. Settlement proposals and proposed terms, or decisions rejecting settlement, must be placed before the relevant forum for appropriate orders.

Settlement orders dispose of specified proceedings in accordance with settlement terms approved by the Panel of Whole Time Member. The order must state the alleged default, relevant securities-law provisions, material facts and circumstances, any applicant admissions, and the settlement terms. In confidentiality matters, the applicant's identity must not be disclosed directly or indirectly, although the allegedly violated securities-law provisions must be indicated.

Confidentiality in settlement proceedings protects an applicant's identity and the information, documents and evidence furnished under the confidentiality provisions. This protection is displaced where disclosure is required by law, the applicant provides written consent, or the applicant has publicly disclosed the relevant identity, information, documents or evidence.

Where the Board reasonably believes that information supplied by an applicant concerns a possible securities law violation that has occurred, is ongoing, or is about to occur, it may refrain from initiating regulatory measures. This may afford the applicant interim confidentiality and assurance against regulatory action and against being proceeded with.

Settlement applications under the confidentiality chapter and resulting settlement orders are governed, with necessary modifications, by the procedural provisions applicable to Chapters IV, V and VIII. Applicants are required to submit information, documents and evidence supporting such applications in the manner specified by the Board. Existing settlement procedures therefore apply to confidentiality-based settlements, subject to prescribed requirements for submitting evidentiary materials.

Confidentiality may be granted to a person providing substantial assistance concerning securities-law violations in exchange for admitting default solely for settlement. The applicant must cease participation, provide complete and truthful information and evidence, cooperate throughout the process, and preserve relevant documents. Applications are available only before or during an examination, investigation, inspection or audit. Failure to meet conditions permits use of supplied information in proceedings, while incomplete or knowingly false material may result in rejection.

SCMTR procedures require a wrongly filed Straight Master Bill of Lading to be deleted and re-filed through a Sea Arrival Manifest Amendment. If a Cargo Summary Notification exists for House Bill details, the Master Bill must be re-filed as consolidated and linked to the relevant references; otherwise, complete House Bill particulars must be included in the houseCargoDec object. Changes to Bill reference type, consolidator PAN, or prior cargo references cannot be made in place. SAA filings must use prescribed message and amendment indicators for fresh filing, amendment, addition, deletion, and permitted updates.

Failure to avail fast track settlement permits initiation or continuation of the specified proceeding where an entity does not apply for settlement, fails to remit the settlement amount within the notified period, fails to make payment, or does not submit revised settlement terms. The entity may seek settlement only at a subsequent stage of the proceedings.

Fast-track settlement applies where the Internal Committee, while considering an application under regulation 22, finds that the calculated settlement amount does not exceed ten lakh rupees and no disgorgement or remedial and regulatory term is applicable. The applicant must submit a revised settlement term, after which the application is placed before the Panel of Whole Time Member and the procedures under regulations 25 and 34 apply mutatis mutandis.

Violation-based fast-track settlement permits the Board, before specified proceedings, to issue a notice requiring an entity to apply for settlement, remit the settlement amount, and comply with or undertake designated remedial and regulatory terms. The mechanism covers specified disclosure and compliance defaults. An entity must apply and make payment within thirty days, subject to limited extension. It may seek rectification of the settlement calculation, for which the Board's decision is final. The notice does not create a right to settlement or limit enforcement action.

Fast track settlement governs specified administrative and civil settlement proceedings through violation-based fast track settlement and monetary threshold-based fast track settlement. For proceedings settled under this Chapter, Regulations 23 and 24 do not apply unless otherwise provided. The two routes are the prescribed forms of fast track settlement for specified proceedings.

The Panel of Whole Time Member may accept or reject settlement recommendations made by the High Powered Advisory Committee or Internal Committee. If a recommendation is not accepted, the application may be returned for reconsideration of settlement terms or rejected through a reasoned decision communicated to the applicant. Upon acceptance of a High Powered Advisory Committee recommendation, the applicant must pay the settlement amount through the dedicated payment gateway and comply with other settlement terms within the stipulated time. The Panel may, for recorded reasons, determine a lower or higher settlement amount based on case facts and gravity of charges.

The High Powered Advisory Committee considers proposed settlement terms, the Internal Committee's recommendation, the applicant's application, undertaking and waivers, prescribed settlement factors, and relevant material. It may require revision of settlement terms and return the application to the Internal Committee. Following its assessment, the Committee recommends acceptance, modification, or rejection of the settlement terms, and its recommendations are placed before the Panel of Whole Time Member.

Settlement terms proposed by an applicant and Internal Committee recommendations are considered by a High Powered Advisory Committee. The Committee may consider powers and discretions conferred on the Panel of Whole Time Member. Its recommendations are determined by majority, but the Judicial Member's recommendation controls where there is no consensus or majority. If the Judicial Member recuses, the majority view of remaining members applies. Where all or all but one members recuse for an application, the Board may constitute another Committee.

Settlement applications are referred to the Internal Committee to assess whether proceedings may be settled and to determine settlement terms. The Committee may obtain information, require personal or virtual appearance, assess market impact, investor loss, and market integrity, and verify disgorgement, investor exit options, and compliance with securities laws. It may permit revised terms within twenty-one days and require an Asset Management Company or investment manager to pay settlement amounts for a Pooled Investment Vehicle. Post-meeting terms and recommendations are placed before the High Powered Advisory Committee.

Interest awarded on enhanced compensation under Section 28 of the Land Acquisition Act, 1894 retains the character of enhanced compensation because it is payable on the excess amount determined on enhancement and remains attached to that award until payment. It differs from Section 34 interest, which compensates delayed payment of the original award. Provisions treating certain compensation-related interest as income from other sources, and principles concerning Section 34 interest, do not apply. Section 28 interest is a capital receipt for the land loser and is not subject to tax deduction at source.

Internal Committees for settlement of administrative and civil proceedings must be constituted by the Board from among its officials. Each committee must comprise one Board officer holding the rank of Chief General Manager, together with such other Board officers as the Board specifies. The Board may constitute as many Internal Committees as are required for purposes of regulations governing settlement of administrative and civil proceedings.

Interest is payable on amounts due in specified proceedings, including disgorgement of wrongful gains, gains from loss averted, or investor losses. In the absence of a final order, interest accrues at nine per cent per annum from the transaction date until filing of the settlement application. Following a final order, the rate is nine per cent until that order and twelve per cent thereafter until the application is filed. Interest applies to principal only and is not compounded on unpaid interest.