Securities And Exchange Board Of India - Subsection
Section 9(2) in Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018
(2)The non-monetary terms may include the following:(a)Suspension or cessation of business activities for a specified period;(b)Exit from Management;(c)Disgorgement on account of the action or inaction of the applicant;(d)Refraining from acting as a partner or officer or director of an intermediary or as an officer or director of a company that has a class of securities regulated by the Board, for specified periods;(e)Cancel securities and reduce holdings where the securities are issued fraudulently, including bonus shares received on such securities, if any, and reimburse any dividends received, etc.;(f)Lock-in of securities;(g)Implementation of enhanced policies and procedures to prevent future securities laws violations as well as agreeing to appoint or engage an independent consultant to review internal policies, processes and procedures;(h)Provide enhanced training and education to employees of intermediaries and securities market infrastructure institutions;(i)Submit to enhanced internal audit and reporting requirements.
