VENEET AGRAWAL vs UNION OF INDIA .

The Supreme Court upheld the constitutionality of the SEBI (Stock Brokers and Sub Brokers) Rules and Regulations, 1992, affirming that they were validly enacted under the Securities and Exchange Board of India Act, 1992, particularly Section 31, which mandates that rules and regulations must be laid before Parliament. The Court clarified that the requirement of laying the rules before Parliament does not invalidate the rules if not complied with, provided they were otherwise enacted within the powers granted by the Act. The appeals against the High Court judgments were dismissed, affirming the legality of the SEBI regulations.