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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Updates Regulations on Administrative and Civil Settlements: New Delay Condonation, Interest Penalties, and Fee Framework Introduced.</h1> The Securities and Exchange Board of India (SEBI) has amended its regulations concerning the settlement of administrative and civil proceedings. The amendments include provisions for condonation of delay in filing applications, with a simple interest penalty for late submissions. Applications may be considered under exceptional circumstances, subject to additional fees or interest. The amendments also specify conditions for remittance of settlement amounts, including interest for late payments. Application fees and legal costs are directed to SEBI's General Fund. The regulations introduce a framework for calculating liabilities in cases involving multiple applicants and outline the procedure for issuing settlement notices.
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