SEBI offers settlement opportunity to entities in illiquid stock option segment. Details here
Sebi) has released a public notice to announce a settlement scheme with regards to certain entities in the illiquid stock options (ISO) segment of BSE. The scheme would give a settlement opportunity to all the entities that have executed reversal trades in the stock options in the period between April 1, 2014 and Sept 30 2015.
The scheme is meant for trading activities of certain entities in the liquid stock options segment of BSE in terms of Section 15JB of the Sebi Act 1992 read with Regulations 26 of Sebi (Settlement Proceedings) Regulations 2018. The scheme would provide a settlement opportunity to all the entities that have executed reversal trades in the stock options in the period between April 1, 2014 and September 30, 2015.
The scheme is meant for those entities against which legal proceedings were either initiated or pending such as adjudicating officer/ Securities Appellate Tribunal (SAT)/ courts/ recovery officer (provided an appeal has been filed and the same is pending before the SAT/court). The scheme will commence on March 11 2024 and end on May 10, 2024 (with both days inclusive).
By availing the benefit of the scheme, the entities may settle such proceedings and avoid further delay in the conclusion of the said proceedings and the associated long drawn legal processes as well as expenses. The Sebi will release a set of frequently asked questions (FAQs) with respect to the scheme on the websites of Sebi and BSE on March 11, 2024.
Once the scheme expires, actions as per the relevant provisions of securities laws will be continued against the entities which do not avail this opportunity for settlement. One can go to the Sebi website and find the notice under public notices.Milestone Alert!
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