Regulation 7 - Withdrawal of application - Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018

Withdrawal of application. 7. (1) An application may be withdrawn at any time prior to the communication of the decision of the Panel of Whole Time Members under regulation 15 . (2) An applicant who withdraws an application under sub-regulation (1) shall not be permitted to make another application in respect of the same default: Provided that, as may be recommended by the High Powered Advisory Committee, such an application may be considered subject to an increase of atleast fifty percent over the settlement amount determined in accordance with Schedule-II of these Regulations.