Scope of the term "May" - Use of the word ‘may’ over the years ...

Case Laws SEBI

July 14, 2022

Scope of the term "May" - Use of the word ‘may’ over the years is normally construed as permissive and not imperative. The words ‘may’ or ‘shall’ by their very etymological foundation denote discretion and mandatory nature of an act respectively. This Court has, therefore, held that the courts should not readily interpret the word ‘may’ as ‘shall’ unless such interpretation is necessary to avoid absurdity, inconvenient consequences or as mandated by the intent of the legislature which is gathered from the other parts of the statute. - SC

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Scope of the term "May" - Use of the word ‘may’ over the years ...

Case Laws SEBI

July 14, 2022

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