TMI BlogScope of settlement proceedingsX X X X Extracts X X X X X X X X Extracts X X X X ..... was committed within a period of twenty four calendar months from the date of the last settlement order where the applicant was a party; (b) an earlier application with regard to the same alleged default had been rejected: [Provided that such an application may be considered in exceptional circumstances, such as the lapse of time since the commission of the alleged default, the weight of ev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the Act and the regulations made thereunder; (b) fraudulent and unfair trade practices including front running, which in the opinion of the Board are serious and have a market wide impact or have caused substantial losses to or affect the rights of investors in securities, especially retail investors and small shareholders: Provided that where the applicant has made or intends to make g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lations made thereunder, except where the applicant agrees to make the open offer or where the Board is of the opinion that the making of the open offer would not be beneficial to the shareholders or is infructuous; (d) defaults or manipulative practices by mutual funds, alternative investment funds, collective investment schemes and their sponsors or asset management companies, collective inve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer; (i) non-compliance of any order or direction passed under the securities laws. (3) Notwithstanding anything contained in this regulation, where the applicant makes out adequate grounds in his application, the settlement of proceedings in respect of the defaults referred to in sub-regulation (2) may be considered in the interest of the investors and the development and regulation of se ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
