Supreme Court of India · 2017-09-20
VIBHA SHARMA vs SEBI
- Citation / case number
- SC 2014/32696
- Court
- Supreme Court of India
- Petitioner
- VIBHA SHARMA
- Respondent
- SEBI
- Author
- HON'BLE THE CHIEF JUSTICE RANJAN GOGOI
- Bench
- HON'BLE THE CHIEF JUSTICE HON'BLE THE CHIEF JUSTICE RANJAN GOGOI
Judgment text excerpt
The Supreme Court addressed the legality of 'non-intermediary front-running' in securities markets under the SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES RELATING TO SECURITIES MARKET) REGULATIONS, 2003. The Court emphasized that the SEBI Appellate Tribunal must independently assess cases and not assume similarities without proper findings. The Court remanded cases for further examination, clarifying that the facts of each case must be distinctly evaluated to determine liability and penalties.