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SECURITIES AND EXCHANGE BOARD OF INDIA
Bharati Dangre, Manjusha Deshpande, JJ
Bharat Nidhi Limited – Appellant
Versus
Securities and Exchange Board of India – Respondent
| Table of Content |
|---|
| 1. challenge to sebi's order revoking settlement. (Para 1 , 2 , 3 , 4) |
| 2. arguments regarding compliance with settlement terms. (Para 5 , 15 , 16 , 17) |
| 3. details of sebi's investigation and findings. (Para 6 , 7 , 8 , 9) |
| 4. legal framework for settlement and revocation. (Para 10 , 12 , 14) |
| 5. revocation of settlement order by sebi. (Para 11 , 13) |
| 6. petitioners' arguments on sebi's actions. (Para 18 , 20 , 21 , 24) |
| 7. sebi's authority and procedures. (Para 22 , 23 , 25 , 26) |
| 8. details on compliance and buy-back process. (Para 27 , 28 , 29 , 30) |
| 9. arguments on the necessity of opportunity for hearing. (Para 31 , 32 , 33 , 34) |
| 10. discussion on natural justice and implications. (Para 35 , 36 , 37 , 38) |
| 11. court's observations on the procedural fairness. (Para 39 , 40 , 41 , 42) |
| 12. conclusions on sebi's revocation process. (Para 43 , 44 , 45 , 46) |
| 13. final remarks on the implications of the judgment. (Para 47 , 48 , 49 , 50) |
JUDGMENT (Per Bharati Dangre, J.)
1. Commonality of the three Writ Petitions lies in the fact that all the three, raise a challenge to the order dated 10.11.2023. passed by Securities and Exchange Board of India (SEBI)revoking the settlement order passed b
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