(1) The Settlement Authority shall pass an appropriate order, including waiver of the whole or part of the interest and penalty levied and included in the amount payable by the dealer, on every application for settlement after affording an opportunity of hearing to the dealer.

(2) The Settlement Authority shall consider the application and the submissions, if any made before them by the dealer and thereafter decide the amount to be deposited by the applicant.

(3) The dealer shall submit an application for withdrawal of the case pending before the High Court and a copy thereof shall be submitted to the Settlement Authority before the issue of order of settlement.

(4) If the amount required to be deposited under sub-section (2), has already been deposited by the dealer, the Settlement Authority shall pass an order of settlement. If the amount deposited is less than the amount decided by the Settlement Authority. The balance amount shall be deposited by the dealer within the time as may be decided by the Settlement Authority. On receipt of proof of payment of the balance amount. The Settlement Authority shall pass an order of settlement.

(5) The Settlement Authority shall pass a settlement order on every application indicating the balance amount of interest and penalty waived on settlement.

(6) The Settlement Authority may remand the case wherever it thinks fit.

(7) An order of settlement shall not form the basis for any claim by the applicant in cases other than the case in which such settlement order has been passed.

(8) No penal action against the applicant under any Act administered by the department shall be initiated after an order of settlement has been passed under this section. The dealer also shall not be entitled to refund of any amount of any other benefit under any Act afterwards.