Supreme Court of India · 2022-03-25
SECURITIES & EXCHANGE BOARD OF INDIA vs MEGA CORP.LTD.
- Citation / case number
- SC 2008/37325
- Court
- Supreme Court of India
- Petitioner
- SECURITIES & EXCHANGE BOARD OF INDIA
- Respondent
- MEGA CORP.LTD.
- Author
- HON'BLE THE CHIEF JUSTICE
- Bench
- HON'BLE MR. JUSTICE PAMIDIGHANTAM SRI NARASIMHA HON'BLE MR. JUSTICE L. NAGESWARA RAO
Judgment text excerpt
The Supreme Court dismissed the appeal filed by the Securities and Exchange Board of India (SEBI) against the Securities Appellate Tribunal's decision to set aside SEBI's order restricting Mega Corporation Limited from accessing the capital market. The court clarified that its jurisdiction under Section 15Z of the SEBI Act is limited to questions of law. The case involved allegations of unusual price movements in the company's shares, prompting SEBI to investigate and impose restrictions.