Regulation 28 - Revocation of the settlement order - Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018

Revocation of the settlement order. 28. (1) If the applicant fails to comply with the settlement order or at any time after the settlement order is passed, it comes to the notice of the Board that the applicant has not made full and true disclosure or has violated the undertakings or waivers, settlement order shall stand revoked and withdrawn and the Board shall restore or initiate the proceedings, with respect to which the settlement order was passed. (2) Whenever any settlement order is revoked, no amount paid under these regulations shall be refunded.