Regulation 20 - Power of the Board to Issue directions. - Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002

Power of the Board to Issue directions. 20. The Board may in the interests of the securities market and without prejudice to its rights to initiate action, including criminal prosecution under Section 24 of the Act or Section 621 of Companies Act give such directions as it deems fit including:- (a) directing the person concerned not to further deal in securities in any particular manner; (b) directing the person concerned to sell or divest the sweat equity shares acquired in violation of the provisions of these Regulations or any other law or regulations; (c) prohibiting the persons concerned, from accessing the securities market; (d) directing the disgorgement of any ill-gotten gains or profits or avoidance of loss; (e) restraining the company from making a further offer for sweat equity.