Authorities shall provide opportunity of hearing before arriving at any figure in demand Notice

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 Secon

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