SEBI provisions doesn’t mandate issuance of separate demand notice before recovery

Jaykishor Chaturvedi & Etc. Vs SEBI (Supreme Court of India) Supreme Court held that the provisions of the SEBI Act or its rules do not mandate the issuance of a separate demand notice before recovery. Thus, adjudication officer’s order which specified payment within 45 days, effectively operates as a notice of demand, rendering any separate demand notice redundant. Facts- The promoter-directors of M/s. Brijlaxmi Leasing and Finance Limited, a company incorporated under the Companies Act and limited by shares, which is listed on the Bombay Stock Exchange and engaged in providing various...