2009 (12) TMI 1069 - SC - SEBI

Summary

The Supreme Court set aside the impugned order of the Securities Appellate Tribunal and remitted the case for de novo consideration in accordance with law on merits. The appellant's appeal against the order of suspension by the Securities and Exchange Board of India was dismissed by SAT only on the ground that the appellant had suffered the punishment. The Court found merit in the appellant's contention that the appeal should be decided on merits due to the stigma imposed by SEBI's order.