The Board may address difficulties in interpreting, applying or implementing the Settlement of Administrative and Civil Proceedings Regulations by issuing clarifications and prescribing procedures through circulars or guidelines.

Information and discussions in settlement proceedings are treated as fiduciary and may not be publicly released where disclosure prejudices the Board or applicant. Following rejection or withdrawal of an application, neither side may rely on or introduce settlement proposals, information, or representations as evidence before a court or Tribunal. The restriction does not apply on revocation of a settlement order. Information distinctly relating to a fact discovered through an application may be proved, whether or not it amounts to an admission.

Revocation of a settlement order may occur where an applicant breaches any settlement term, fails to make full and true disclosure, or violates undertakings or waivers. The Board may restore or initiate the proceeding for which settlement was granted. Prior hearing before the Board is mandatory before revocation. Upon revocation, amounts paid under the settlement framework are not refundable.

Settlement orders do not serve as evidence in proceedings concerning defaults outside their scope and do not affect third-party rights. In co-noticee proceedings, observations concerning a settling applicant may be made only where necessary to establish another person's act, and remain subject to the settlement order unless revoked. Observations concerning another person are not independently admissible against that person. Other co-noticees cannot invoke the settlement order to claim exoneration or that proceedings against them are infructuous.

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 according to settlement terms approved by the Panel of Whole Time Member. The competent authority, or the Panel in suo motu and notice-based matters, passes the disposal order. Each order must set out the alleged default, relevant securities-law provisions, material facts, applicant admissions, if any, and settlement terms. Orders concerning confidentiality must protect the applicant's identity while identifying the securities-law provisions allegedly violated.

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 occurs where an entity does not file a settlement application, does not remit the settlement amount within the stipulated time, or neither pays the amount nor files revised settlement terms when required. The specified proceeding may then be initiated or continued, and a settlement application may be filed only at a subsequent stage.

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.