Securities And Exchange Board Of India - Subsection
Section 5(3) in Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014
(3)Notwithstanding anything contained in this regulation, where the applicant makes out adequate grounds in his application, the settlement of proceedings in respect of the defaults referred to in sub-regulation (2) may be considered in the interest of the investors and the development and regulation of securities market:Provided that the reasons for settlement of such proceeding shall be recorded in writing.
