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Directions by the Board

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..... ) of section 12, Chapter VIA and section 24 of the Act or section 439 of the Companies Act, 2013, the Board may suo-motu or upon receipt of information or on completion or pendency of inspection or investigation, in the interests of the securities market, issue or pass such directions as it deems fit including any or all of the following: (a) direct the issuer to refund the application monies to t .....

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..... further that if any ex-parte direction is required to be urgent issued, the Board may give post decisional hearing to the affected person: Provided also that where the issuer is a Municipality, the Board may communicate the instances of violation or non-compliance etc. if any, to the Central Government and the concerned State Government.] ************ Notes 1. Inserted vide NOTIFICATION No. SEBI/ .....

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