Section 11D
Cease and desist proceedings.
The Securities and Exchange Board of India Act, 1992
About this Act
An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
1[11D. Cease and desist proceedings.-- If the Board finds, after causing an inquiry to be made, that
any person has violated, or is likely to violate, any provisions of this Act, or any rules or regulations made
thereunder, it may pass an order requiring such person to cease and desist from committing or causing
such violation:
Provided that the Board shall not pass such order in respect of any listed public company or a public company (other than the intermediaries specified under section 12) which intends to get its securities listed on any recognised stock exchange unless the Board has reasonable grounds to believe that such company has indulged in insider trading or market manipulation.]
Provided that the Board shall not pass such order in respect of any listed public company or a public company (other than the intermediaries specified under section 12) which intends to get its securities listed on any recognised stock exchange unless the Board has reasonable grounds to believe that such company has indulged in insider trading or market manipulation.]
Notes
1. Ins. by Act 9 of 1995, s. 6 (w.e.f. 25-1-1995)