Para 6 - Payments - SEBI (Aid for Legal Proceedings) Guidelines, 2009

Payments 6. (1) The aid for a particular legal proceedings shall not exceed ₹ 20 lakh if it is before the Supreme Court of India and ₹ 10 lakh before any other forum. (2) The aid for legal proceedings shall be given only by way of reimbursement of expenses incurred. (3) The Investors Association, which has received the letter of grant of aid from the Board, shall submit original bills along with the claim seeking reimbursement of expenses incurred. (4) The bills submitted shall be certified by the Auditor of the Investors Association. (5) Not more than seventy five percent of the expenses actually incurred shall be reimbursed. (6) The aid for legal proceedings shall be given by way of crossed cheque and/ or demand draft drawn in favour of the Investors Association. (7) It shall be the endeavour of the Board to reimburse the amounts within fifteen days of the receipt of claims in accordance with these Guidelines and the Regulations. (8) If, at any time, the Board is of the opinion that any particular legal proceedings are not achieving the objective of investor protection, the Board may discontinue the aid after giving a notice of the same to the Investors Association.