Settlement scheme for BSE illiquid stocks has been announced. There will be an opportunity for settlement between 22 August and 21 November 2022. All cases on any forum will be resolved through this settlement scheme.
The Securities Appellate Tribunal (SAT), in May this year asked the Securities and Exchange Board of India (SEBI) to bring a settlement scheme.
The cases before SAT, AO, RO will be resolved.
The condition is that an appeals needs to be filed against the orders.
The conditions of settlements will be published on SEBI and BSE websites.
Zee Business had on 19 July played the news for the first time.
Once again a settlement scheme will be launched for illiquid stocks on BSE.
SEBI is mulling over bringing a settlement scheme for illiquid options
SEBI is likely to bring this settlement scheme next month.
In the new settlement scheme, the settlement amount is likely to be kept low in order to settle cases in case of maximum entities.
It will be a big relief for SEBI and entities if majority of cases are settled under SEBI.
SEBI brought this scheme in 2021 but only 1100 entities could take advantage of it.
SEBI had found nearly 14400 entities indulging in abuse of illiquid options.
The scheme was unsuccessful last time because of high settlement amount