Regulation 43 - Exemption from enforcement of the regulations in other cases. - Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

43. Exemption from enforcement of the regulations in other cases. (1) The Board may suo motu or on an application made by a company, for reasons recorded in writing, grant relaxation from strict compliance with any of these regulations subject to such conditions as the Board deems fit to impose in the interests of investors in securities and the securities market. (2) A company making an application under sub-regulation (1), shall pay a non-refundable fee of rupees one lakh by way of direct credit in the specified bank account of the Board through NEFT/RTGS/IMPS or any other mode allowed by the Reserve bank of India.