Securities And Exchange Board Of India - Subsection
Section 27(2) in Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018
(2)Where any applicant who obtains a settlement order is also noticee along with any other person in any civil and administrative proceeding, the Adjudicating Officer or the Board while disposing proceedings against such other person may make necessary observations in respect of the applicant in so far as is necessary to prove the act of another:Provided that, unless the settlement order is revoked, such observations shall qua the applicant be subject to the settlement order obtained by the applicant.
