Para 5 - Process - SEBI (Aid for Legal Proceedings) Guidelines, 2009

Process 5. (1) The aid for the legal proceedings shall be granted at the discretion of the Board if the Board is prima facie satisfied that the aid is in the best interest of the investors. (2) The Board shall not entertain an application for legal aid if the application is incomplete or does not fulfill the conditions laid down under these guidelines or under the Regulations. (3) Where more than one application for aid is received by the Board on the same day, the Investors Association that has filed the petition/suit before the appropriate Court first, shall be considered for grant of legal aid. (4) The Board shall issue a letter conveying grant of aid for a particular legal proceedings.