Violation based fast track settlement

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....specified in Part-B of Schedule-II, calling upon the entity to file a settlement application under Chapter- II and submit the settlement amount and either comply with or furnish an undertaking to comply with Remedial and Regulatory Term, as may be specified in the fast track settlement notice for the following defaults,- i. Delayed disclosures, including filing of returns, report, documen....

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....onfer any right upon the entity to seek settlement or avoid any enforcement action. (4) The entity to whom a notice under sub-regulation (1) has been issued may, within thirty days from the date of receipt of the notice of fast track settlement, - (a) file an application to the Board in the Form proposing for settlement of specified proceeding along with the undertaking and waiver and ....

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.... (6) The Board may for reasons to be recorded, grant extension of time not exceeding a further period of fifteen days for filing the settlement application or for remittance of the settlement amount or furnishing an undertaking in respect of any of the Remedial and Regulatory Term or compliance with any of the Remedial and Regulatory Term specified in the notice of fast track settlement. (7) ....