Regulation 25 - Power to issue directions - Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013

Power to issue directions. 25. (1) Without prejudice to its powers under Chapter VIA and section 24 of the Act, the Board may, in the interest of investors in securities market, issue such directions as it deems fit under section 11 or section 11A or section 11B or section 11D of the Act including: (a) directing the issuer to refund of the application monies to the applicants in a public issue; (b) directing the persons concerned not to further deal in securities in any particular manner; (c) directing the persons concerned not to access the securities market for a particular period; (d) restraining the issuer or its promoters or directors from making further issues of securities; (e) directing the person concerned to sell or divest the securities; (f) directing the issuer or the depository not to give effect transfer or directing further freeze of transfer of securities; (g) any other direction which Board may deem fit and proper in the circumstances of the case: Provided that the Board shall, either before or after issuing such directions, give an opportunity of being heard to the persons against whom the directions are issued or proposed to be issued: Provided further that, if, any ex-parte direction is required to be issued, the Board may give post decisional hearing to affected person.