The High Court rejected the petition challenging SEBI's decision to not accept the settlement...

The High Court rejected the petition challenging SEBI's decision to not accept the settlement applications. The petitioner's documents were deficient, and it failed to maintain the required net worth for the financial years 2019-2021, despite being granted multiple opportunities for compliance. The court held that SEBI fairly considered the settlement proposal, provided ample opportunities, and no breach of natural justice occurred. The decision-making process was not arbitrary or defective. The court upheld SEBI's decision, finding no grounds to interfere with the impugned communication rejecting the settlement applications due to the petitioner's persistent non-compliance. .....

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