2023 (10) TMI 1483 - SC - SEBI

Appeal against an order by the Securities Appellate Tribunal - Tribunal s order allowed the appellant to submit a reply to a notice to show cause issued by the Whole Time Member of the Securities and Exchange Board of India (SEBI) - HELD THAT - The impugned order which has been passed by the Securities Appellate Tribunal has left it open to the appellant to submit a reply to the notice to show cause which was issued by the Whole Time Member of the Securities and Exchange Board of India. This is evident from a bare reading of impugned Seya Industries Ltd. v. SEBI 2023 (6) TMI 1464 - SECURITIES APPELLATE TRIBUNAL MUMBAI . Moreover certain other protective directions have been issued. We therefore do not find any reason to entertain the Appeal. Appeal is accordingly dismissed.

Summary

The Supreme Court of India, comprising Hon'ble Dr. Dhananjaya Y. Chandrachud, CJI, and Justices J.B. Pardiwala and Manoj Misra, reviewed an appeal against an order by the Securities Appellate Tribunal. The Tribunal's order allowed the appellant to submit a reply to a "notice to show cause" issued by the Whole Time Member of the Securities and Exchange Board of India (SEBI). The Court noted that the order included protective directions and found no grounds to entertain the appeal, resulting in its dismissal. Any pending applications were also disposed of.