Regulation 111 - Directions by the Board - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

1 [CHAPTER XII] MISCELLANEOUS Directions by the Board. 2 [111.] Without prejudice to the power under sections 11, 11A, 11B, 11D, sub-section (3) of section 12, Chapter VIA and section 24 of the Act or section 621 of the Companies Act, 1956, the Board may either suo motu or on receipt of information or on completion or pendency of any inspection, inquiry or investigation, in the interests of investors or the securities market, issue such directions or orders as it deems fit including any or all of the following: (a) directing the persons concerned not to access the securities market for a specified period; (b) directing the person concerned to sell or divest the securities; (c) 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 direction or order, give a reasonable opportunity of being heard to the person concerned: Provided further that if any interim direction or order is required to be issued, the Board may give post-decisional hearing to the person concerned. ****** 1 Chapter XI renumbered as Chapter XII by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, w.e.f. 01.12.2015. 2 Regulation 107 renumbered as Regulation 111 by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, w.e.f. 01.12.2015.