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Penalty imposed by SEBI without providing statutory opportunities to appellant is breach of principles of natural justice
Case Law Details
- Case Name
- Dushyant N. Dalal Vs Securities and Exchange Board of India (Securities Appellate Tribunal Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
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Securities Appellate Tribunal, Mumbai Bench
Dushyant N. Dalal
versus
Securities and Exchange Board of India
APPEAL NO. 184 OF 2011
OCTOBER 4, 2012
ORDER
S.S.N. Moorthy, Member – The adjudicating officer of the Securities and Exchange Board of India (for short the Board) imposed a penalty of Rs. 14 crores on the appellants, Dushyant Natwarlal Dalal and Puloma Dalal, on June 2, 2011. The above penalty was imposed under section 15HA of the Securities and Exchange Board of India Act, 1992 (the Act) for violating the provisions of section 12A (a), (b) and (c) of the Act read with regulations ...
