SC grants controlled discretion to Adjudicating Officer | Section 15J | SEBI Act

SC grants controlled discretion to Adjudicating Officer under Section 15J of The SEBI Act The Supreme Court of India ruled in Adjudicating Officer, SEBI v. Bhavesh Pabari (Bhavesh Pabari) granting back the discretionary power to Adjudicating Officer (AO) under supervision and scrutiny of the court. It overruled its previous decision in Roofit Industries v. SEBI ( Roofit Industries). The highlight of the case is that it provided with controlled discretionary power to the AO, granting them the authority to determine the quantum of the penalty when there is non-compliance of any rules m...