SEBI can pass ex parte interim orders only in urgent cases: SAT

SEBI can pass ex parte interim orders only in urgent cases: SAT

The Securities Appellate Tribunal, Mumbai has significantly held that the Securities and Exchange Board of India (SEBI) can pass ex parte interim orders only in extreme and urgent cases. The Bench headed by Justice Tarun Agarwala further held that the power to issue such orders must be used sparingly.

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