Securities And Exchange Board Of India - Subsection
Section 34(3) in Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018
(3)Notwithstanding anything contained in Chapters VI to Chapter VIII, with respect to specified proceedings pending as on the date of commencement of this Chapter, the Board may issue a notice of summary settlement or settlement under Chapter VII or Chapter VIII, as the case may be, in respect of such proceedings and in such cases the procedure specified in Chapter VII or Chapter VIII shall apply mutatis mutandis, as the case may be:Explanation. - For the purposes of this sub-regulation, it is clarified that a specified proceeding is not deemed to be initiated and pending, unless the Board has communicated the matter to the authority who shall conduct such proceedings.
