On July 30, 2020, Corporate Laws & Corporate Governance Committee of The Institute of Chartered Accountants of India (ICAI) released a pdf with Frequently Asked Questions with their respective answers on the SEBI Settlement Scheme, 2020.
The SEBI Settlement Scheme, 2020 was introduced by the the Securities Exchange Board of India vide Public Notice dated July 27, 2020. The notice was entitled as Settlement Scheme (“the Scheme”) in terms of Regulation 26 of SEBI (Settlement Proceedings) Regulations 2018.
The SEBI Settlement Scheme, 2020 stated that any entity who want to submit an application seeking one-time settlement under the Scheme need to submit a Settlement application, and they also have to pay application fee which is INR 15,000 for individuals and INR 25,000 for body corporates in the prescribed format which can be observed on SEBI website as well as from the BSE website.
The Scheme was introduced with the main aim to provide an opportunity for one-time settlement to the eligible entities who have executed trade reversals in the BSE’s stock options segment in between the period from April 1, 2014, to September 30, 2015, against whom any proceedings are pending.
Again, The released PDF has 10 Questions and their respective answers and the same can be seen Click here.