Securities And Exchange Board Of India vs Udayant Malhoutra

The Supreme Court addressed appeals by the Securities and Exchange Board of India (SEBI) against orders of the Securities Appellate Tribunal that set aside an interim order related to insider trading. The court examined the validity of the interim order which directed the respondent to credit a notional loss amount into an Escrow Account due to trades based on unpublished price-sensitive information. The court ultimately upheld the Tribunal's decision, emphasizing the need for adherence to procedural fairness in regulatory actions.