SEBI can pass ex parte interim orders only in urgent cases: SATNovember 27 2019
The Securities Appellate Tribunal, Mumbai has significantly held that the Securities and Exchange Board of India (SEBI) can pass ex parte interim orders only in extreme and urgent cases. The Bench headed by Justice Tarun Agarwala further held that the power to issue such orders must be used sparingly.
The SAT was hearing an appeal challenging an ex parte interim order passed against the appellant Cameo Corporate Services Limited, a BPO providing share transfer services. The Whole Time Member (WTM) of the SEBI . . .
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