Regulation 11 - Priority in distribution of sale proceeds. - Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018

Priority in distribution of sale proceeds. 11. The proceeds from the sale of properties of the defaulter shall be distributed in the following order of priority, namely, - i. the costs of administration incurred by the Board, if any, and the fees and charges payable to the Administrator and other persons appointed by the administrator in performing its functions under these regulations; ii. disgorgement and/or monies payable to investors: Provided the Board may direct the Administrator to initiate the process of refund to the investors with the monies realized at the relevant time. For this purpose, the Administrator may call for claims in tranches iii. any other penalty or fees due from the defaulter to the Board under the provisions of the Act, the Securities Contracts (Regulation) Act, 1956 or the Depositories Act, 1996 .