The circular provides the procedure for seeking waiver or ...

SEBI outlines procedure to waive/reduce interest on penalties under securities laws.

January 11, 2025

Circulars SEBI

The circular provides the procedure for seeking waiver or reduction of interest levied on persons against whom recovery proceedings are initiated for failure to pay penalty under relevant securities laws. The key points are: SEBI has delegated power to waive/reduce interest to a panel of Executive Directors (for <Rs. 2 crore) or Whole-time Members. Waiver is not allowed for interest on fees payable to SEBI or disgorgement amounts. Application is to be made to the Recovery Officer along with supporting documents showing genuine hardship, circumstances beyond control, and cooperation in inquiries. The Competent Authority shall pass order within 12 months after giving opportunity of being heard.

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The circular provides the procedure for seeking waiver or ...

SEBI outlines procedure to waive/reduce interest on penalties under securities laws.

January 11, 2025

Circulars SEBI

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