All entities under scrutiny to get settlement notice
28 Dec 2017 10:46 PM IST
New Delhi: To fast-track cases, markets regulator Sebi will issue settlement notice to entities undergoing probe against violations like delay in making shareholding disclosures and filing of returns and reports.
Also, among other violations is non-disclosure in relation to companies exclusively listed on regional stock exchanges which have exited, besides delay in compliance of any other Sebi norms.
"The board may issue a notice of settlement...calling upon the noticee (entity) to file a settlement application in respect of the specified proceeding(s) to be initiated, upon payment of the settlement amount and or furnishing an undertaking in respect of other non-monetary terms or compliance with other non-monetary terms," Sebi said in a notification dated December 27.
However, the Securities and Exchange Board of India (Sebi) said that these proceedings would not be settled in case the applicant failed to make a full and true disclosure of facts.
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