Section 6 in Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018
6. Rejection of application.
(1)An application may at any time be rejected on the following grounds:(a)Where the applicant refuses to receive or respond to the communications sent by the Board;(b)Where the applicant does not submit or delays the submission of information, document, etc., as called for by the Board;(c)Where the applicant who is required to appear, does not appear before the Internal Committee on more than one occasion;(d)Where the applicant violates in any manner the undertaking and waivers as provided in Part-C of the Schedule-I;(e)Where the applicant does not remit the settlement amount within the period specified in clause (a) of sub-regulation (2) of regulation 15 and/or does not abide by the undertaking and waivers.(2)The rejection under sub-regulation (1) shall be communicated to the applicant:Provided that the applicant shall continue to be bound by the waivers given in respect of limitation or laches in respect of the initiation or continuation or restoration of any legal proceeding and the waivers given under sub-paras (d), (e), (f) and (g) of para 12 of the undertaking and waivers as provided in Part-C of the Schedule-I.
