The Securities and Exchange Board of India (SEBI) on August 09, 2023, issued the Securities and Exchange Board of India (Settlement Proceedings) (Second Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018.
The following has been stated namely: -
• Regulation 23 which states “Settlement of proceedings before the Adjudicating Officer and the Board” the following has been inserted after sub-regulation 2:
“(2A) In case of specified proceedings which may be initiated or are proposed to be initiated, the Panel of Whole Time Members shall dispose of such proceedings on the basis of the approved settlement terms”
This shall come into from January 17, 2023
[Notification No. SEBI/LAD-NRO/GN/2023/142]
