DUSHYANT N DALAL vs SECURITIES AND EXCHANGE BOARD OF INDIA

The Supreme Court addressed the applicability of interest under Section 28A of the Securities and Exchange Board of India Act, 1992, in cases of penalty and disgorgement of unlawful gains. The Court held that interest can be recovered on unpaid penalties and disgorgement amounts, affirming the authority of SEBI to demand such interest. The judgment clarified that the demand for interest at 13% per annum from the date of the original order was lawful, thereby upholding the Recovery Officer's decision to attach the appellants' bank accounts for non-payment.