SEBI experienced a significant uptick in settlement activity in FY25, receiving 703 settlement applications, compared to 434 in FY24. Of these, 284 cases were resolved, through settlement orders. In these settled cases, SEBI collected ₹798.87 crore in settlement charges and ₹64.84 crore in disgorgement fees.
What Drove the Surge?
- Authorities observing nearly three settlement applications per working day on average, signaling a shift in how market actors prefer handling regulatory infractions.
- Experts contend this reflects a more assertive enforcement posture by SEBI, wherein entities opt for settlements over litigation due to robust evidence and less scope to contest.
Strategic and Market Impacts
- Faster resolution: The settlement mechanism allows parties to settle without lengthy litigation, accelerating enforcement feedback.
- Revenue boost: Collections surged from just ₹94.5 crore in FY24 to roughly ₹799 crore —over an eightfold increase.
- Resource reallocation: Effective settlements allow SEBI to focus its resources on enforcement, overarching investigations, and systemic oversight.
FY25 Litigation and Enforcement Snapshot
- The Securities Appellate Tribunal (SAT) received 533 new appeals in FY25 (down from 821), disposing of 422—73% of which were dismissed.
- SEBI’s enforcement also extended to prohibitive directions, fraud and manipulation probes, and a reduction in adjudication cases—highlighting its intensifying oversight.mint
Conclusion
FY25 marked a pivotal year for SEBI’s regulatory effectiveness. With ₹799 crore collected via settlements and a sharp rise in plea filings, India’s securities regulator is reinforcing its resolve and operational agility. This trend reflects a shift toward timely resolution and stronger compliance enforcement—signaling a maturing regulatory environment in India’s capital markets.
