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Authorities shall provide opportunity of hearing before arriving at any figure in demand Notice
Case Law Details
- Case Name
- Golden Trees Plantation Limited Vs Securities And Exchange Board of India (Gujarat High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
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Golden Trees Plantation Limited Vs SEBI (Gujarat High Court)
Conclusion: In present facts of the case, the Hon’ble High Court quashed the recovery Notice issued by SEBI as no opportunity of hearing was provided to the petitioner and no mechanism/ calculation was provided by the recovery officer on the basis of which demand could be sustained.
Facts: In present facts of the case, the Demand Notice was issued by SEBI under Rule 2 of the Second Schedule to the Income Tax Act, 1961 read with Section 28A of the Securities and Exchange Board of India Act, 1992, wherein Rs. 1,068,64,56,000/- (Rupee...
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