Supreme Court of India · 2021-07-23
PRAKASH GUPTA vs SECURITIES AND EXCHANGE BOARD OF INDIA
- Citation / case number
- SC 2019/17875
- Court
- Supreme Court of India
- Petitioner
- PRAKASH GUPTA
- Respondent
- SECURITIES AND EXCHANGE BOARD OF INDIA
- Author
- HON'BLE THE CHIEF JUSTICE
- Bench
- HON'BLE MR. JUSTICE M.R. SHAH HON'BLE THE CHIEF JUSTICE
Judgment text excerpt
The Supreme Court addressed the issue of whether an offence under Section 24(1) of the SEBI Act could be compounded without the consent of the Securities and Exchange Board of India (SEBI). The court held that compounding of offences under the SEBI Act requires SEBI's consent, affirming the decisions of the lower courts. Consequently, the appeal was dismissed, reinforcing the regulatory authority of SEBI in matters of compounding offences under the Act.