Regulation 6 - Withdrawal of application - Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014

Withdrawal of application. 6. (1) An application may be withdrawn at any time prior to the communication of the decision of the panel of whole time members under regulation 14. (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 such an application may be considered at the next stage of proceedings, as indicated in Table I in Schedule-II, if the applicant makes out adequate grounds and subject to payment of such additional fees and/or interest on the settlement amount from the date of withdrawal of the earlier application till the date of payment of the settlement amount, as may be recommended by the high powered advisory committee.] 1 ********** 1 Inserted by the Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) (Amendment) Regulations,2017 w.e.f. 27.02.2017.